State Bank of India : Sensex, Nifty rise as PSU banks, metals rally

Indian shares inched higher on Thursday, helped by state-run banks and metals stocks, although gains were checked by worries over rising coronavirus cases.

The NSE Nifty 50 index rose 0.3% to 11,343.20 by 0346 GMT, while the S&P BSE Sensex was 0.21% higher at 38,448.56.

The Nifty PSU Bank Index, which tracks state-owned lenders, advanced more than 1%, led by a 1.6% jump in State Bank of India.

The Nifty Metal index, which scaled a more than five-month peak earlier this week, rose nearly 2%.

Shares of Tata Power Company Ltd jumped nearly 4% after the company posted higher quarterly profit on Wednesday.

India's small-cap and mid-cap shares rose 0.4% and 0.57%, respectively.

Meanwhile, India's tally of coronavirus cases reached 2.33 million on Wednesday, with the death toll at 46,091. The country has the world's third highest caseload after the United States and Brazil.

(Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu)