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Sensex Up 278 Points In Early Trade; Nifty Climbs Above 10,500

Indian shares opened higher on Thursday as investors reacted to positive developments over a potential vaccine for Covid-19 and awaited the June U.S. employment data due later in the day for direction.

The benchmark S&P BSE Sensex rose by 278 points, or 0.78 percent, to 35,692, while the broader NSE Nifty index was up 82 points, or 0.78 percent, at 10,512.

GAIL, IndusInd Bank, ONGC, Titan and Mahindra & Mahindra rallied 2-3 percent.

Coal India edged down slightly after reporting a 12.8 percent decline in production in June.

TVS Motor gained 0.7 percent despite reporting a 33 percent fall in June sales.

Abbott India, Pfizer, and Ipca Lab were moving higher on reports that they are likely to be included in the F&O segment.

Axis Bank rose about 1 percent on fund raising reports.

Dr Reddy's Laboratories climbed 1.1 percent after it announced a partnership with Fujifilm Toyama Chemical and Global Response Aid for a potential Covid-19 drug.

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