Sensex, Nifty Extend Gains For Second Day

Indian shares rose for the second straight session on Thursday, with automakers, metal and IT companies leading the surge.

The benchmark 30-share BSE Sensex oscillated between a high of 49,011.31 and a low of 48,614.11 before ending the session up 272.21 points or 0.56 per cent at 48,949.76.

The broader NSE Nifty index rose 106.95 points, or 0.73 percent, to 14,724.80 despite mixed global cues and renewed worries about the COVID-19 situation in the country.

India today reported a new high of 4,12,262 new COVID cases and 3,980 deaths, taking the country's tally to 2,10,77,410, according to the Union Health Ministry.

There were hopes that U.S. President Biden's decision to back waiving intellectual property rights on vaccines will quicken the vaccination process enabling countries like India to come out of the pandemic faster.

Tata steel climbed 3.1 percent after reporting a very good set of numbers. Hero MotoCorp surged 4.7 percent ahead of its earnings announcement. Hindalco shares soared 5.7 percent while Wipro rallied 4.4 percent and Tata Motors added 3.3 percent.

On the flip side, Sun Pharma, Power Grid Corp, Bajaj FinServ and UPL all fell around 1 percent.

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