Indian shares open higher as metals gain, Omicron fears ease
Tuesday,
07-Dec-2021
09:50 AM (IST)
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 was up 0.8% at 17,047.30 by 0347 GMT, while the benchmark S&P BSE Sensex rose 0.78% to 57,187.41. The Nifty bank index climbed 1.3%, while the Nifty metal index jumped 2%. Heavyweight steel makers Tata Steel and state-run Steel Authority of India Ltd 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 gained 1.6% after the carmaker said on Monday it would hike prices of its commercial vehicles from January.
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