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Indian shares open higher as metals gain, Omicron fears ease

Bengaluru, December 7 (Reuters): Indian shares bounced back on Tuesday from a more than three-month closing low, aided by gains in metal and banking stocks, as concerns about the Omicron coronavirus variant eased.

The blue-chip NSE Nifty 50 index (.NSEI) was up 0.8% at 17,047.30 by 0347 GMT, while the benchmark S&P BSE Sensex (.BSESN) rose 0.78% to 57,187.41.

The Nifty bank index (.NSEBANK) climbed 1.3%, while the Nifty metal index (.NIFTYMET) jumped 2%. Heavyweight steel makers Tata Steel (TISC.NS) and state-run Steel Authority of India Ltd (SAIL.NS) were up 2.3% and 2.5%, respectively.

Dr. Anthony Fauci, the top U.S. infectious disease official, told CNN on Monday that it does not look like Omicron has a “great degree of severity.”

Shares of Tata Motors Ltd (TAMO.NS) gained 1.6% after the carmaker said on Monday it would hike prices of its commercial vehicles from January.

Disclaimer :- This story has not been edited by The Sen Times staff and is auto-generated from news agency feeds.
Source: Reuters


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