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Sensex Tops 50,000; Nifty Climbs Above 14,700

Indian shares opened higher on Thursday, mirroring positive global cues as investors waited for the Biden administration to push through a nearly $2 trillion U.S. fiscal stimulus plan to offset damage wreaked by the Covid-19 pandemic.

After the presidential inauguration, Joe Biden signed 15 executive actions, covering Covid-19, climate change, and immigration among other issues, stating "these are just all starting points."

The benchmark S&P BSE Sensex rose 282 points, or 0.6 percent, to 50,073 in early trade, while the broader NSE Nifty index was up 83 points, or 0.6 percent, at 14,727.

Bajaj Finance rallied 3.6 percent despite posting a 30 percent fall in Q3 standalone net profit.

Reliance Industries jumped over 2 percent. The company's Rs. 24,713-crore billion deal to buy Future Group's retail assets has been cleared by market regulator SEBI. Future Retail shares surged nearly 5 percent.

Havells soared 6.2 percent on reporting a 75 percent jump in Q3 net profit.

Asian Paints, Bajaj Auto, SBI Card and Bandhan Bank were up between 0.6 percent and 2 percent ahead of their earnings results.

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