(Reuters) Indian shares rose on Tuesday, snapping a seven-day losing streak on value buying in blue-chips as investors shrugged off worries over an anti-corruption party’s win in Delhi elections and instead focussed on the upcoming budget.
An upstart anti-establishment party crushed India’s ruling Bharatiya Janata Party in an election for the Delhi assembly on Tuesday, smashing an aura of invincibility built around Prime Minister Narendra Modi since he swept to power last year.
Traders chose to focus on reforms in the upcoming federal budget on Feb. 28 when Finance Minister Arun Jaitley is widely expected to boost capital spending and offer tax breaks to an under-performing manufacturing sector.
The benchmark BSE index rose 0.45 percent, while the NSE index ended 0.46 percent higher after earlier marking their lowest levels in over three weeks.
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