Sensex Jumps 440 Points; Nifty Tops 14,850

Indian shares rose on Friday as positive cues from Wall Street and Asia helped investors shrug off concerns that the second wave of coronavirus in the country will delay economic recovery.

The benchmark S&P BSE Sensex jumped 440 points, or 0.9 percent, to 49,390 in early trade, while the broader NSE Nifty index was up 128 points, or 0.9 percent, at 14,853.

IndusInd Bank, Hindalco, JSW Steel, SBI Life and Tata Steel climbed 3-4 percent in the Nifty pack, while Tata Consumer Products slumped as much as 5.4 percent after posting quarterly profit below estimates.

Hero MotoCorp slid half a percent while Adani Power rallied 2.2 percent after declaring their quarterly results.

Praj Industries soared 9.5 percent after its March quarter net profit jumped 109 percent.

Muthoot Finance advanced 1.2 percent after it partnered with fintech NIRA as part of its strategy to strengthen its digital footprint.

Housing Development Finance Corporation rose 0.9 percent ahead of its earnings release.

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