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Sensex Gains 258 Points; Nifty Nears 15,100

Indian shares rose on Thursday, though markets ended off their day's highs amid the expiry of February series derivative contracts.

Underlying sentiment remained supported after Federal Reserve Chair Jerome Powell downplayed the risks of inflation and reaffirmed his view that the world's largest economy needs support in his second day of testimony to legislators in Washington.

Meanwhile, the NSE trading halt that froze the markets for more than four hours on Wednesday was due to the unavailability of an 'online risk management system' and a detailed root cause analysis from telecom service providers and vendors regarding the incident is awaited, the exchange said.

The benchmark S&P BSE Sensex rose 257.62 points, or 0.51 percent, to 51,039.31, extending gains for the third day.

The broader NSE Nifty index ended up 115.35 points, or 0.77 percent, at 15,097.35.

Coal India shares surged as much as 8.7 percent after reports that the company plans to invest Rs 1.43 lakh crore in 26 projects in new business areas.

BPCL, Hindalco, Adani Ports and UPL jumped 5-7 percent, while Kotak Mahindra Bank, Larsen & Toubro, Divis Laboratories, Nestle India and ICICI Bank dropped 1-2 percent.

Telecom major Bharti Airtel advanced 1.3 percent after successfully raising about $1.25 billion overseas via two sets of global papers — perpetual and vanilla bonds. Rival Vodafone Idea rose 2.2 percent.

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