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Sensex Rallies 475 Points; Nifty Tops 15,750

Indian shares opened higher on Thursday, tracking firm global cues as strong U.S. earnings helped offset concerns about the economic impact of coronavirus flareups.

The benchmark 30-share BSE Sensex rose 475 points, or 0.9 percent, to 52,674 in early trade, while the broader NSE Nifty index was up 132 points, or 0.8 percent, at 15,764.

ICICI Bank, Hindalco, Titan, JSW Steel and Bajaj Finance gained 2-3 percent in the Nifty pack, while Cipla, Power Grid Corp and Asian Paints fell around 1 percent each.

Havells India jumped 3.4 percent after it reported nearly four-fold jump in its quarterly consolidated net profit.

Bharti Airtel edged up slightly after unveiling its 5G plans.

Jubilant Foodworks soared 9 percent on posting turnaround results for the April-June quarter.

Ceat dropped 1 percent. The tyre manufacturer posted a consolidated net profit of Rs 23 crore for the first quarter ended June versus a net loss of Rs 35 crore for the year-ago period.

IDFC rallied as much as 18 percent as the RBI allowed the company to exit as the promoter of IDFC First Bank. Shares of the latter rose 4 percent.

Bajaj FinServ gained 1 percent despite reporting over 31 percent decline in Q1 consolidated net profit.

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