Indian shares tracked global markets higher on Tuesday, May 26, led by gains in beaten-down financial stocks, with investor sentiment lifted on stimulus hopes and as economies reopened from coronavirus lockdowns.

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A man walks past a screen displaying news of markets update inside the Bombay Stock Exchange (BSE) building in Mumbai, February 6.Reuters

Banking shares gain 

The NSE Nifty 50 index rose 1.2% at 9,148.8 by 0347 GMT, while the S&P BSE Sensex gained 1.04% to 30,994.03.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.6% as investors looked past Sino-U.S. trade tensions and focused on more stimulus in China and a gradual reopening of the world economy.

In Mumbai, Nifty banking index rose 2%, led by a 3.3% surge in HDFC Bank Ltd. Conglomerate ITC Ltd rose 4% after a deal to buy spice maker Sunrise Foods.