AGL 5.60 Decreased By ▼ -0.18 (-3.11%)
ANL 8.90 Increased By ▲ 0.02 (0.23%)
AVN 76.85 Decreased By ▼ -2.07 (-2.62%)
BOP 5.26 Decreased By ▼ -0.02 (-0.38%)
CNERGY 4.63 Decreased By ▼ -0.07 (-1.49%)
EFERT 81.27 Decreased By ▼ -0.33 (-0.4%)
EPCL 50.08 Decreased By ▼ -0.83 (-1.63%)
FCCL 13.16 Decreased By ▼ -0.22 (-1.64%)
FFL 5.69 Decreased By ▼ -0.03 (-0.52%)
FLYNG 7.07 Decreased By ▼ -0.08 (-1.12%)
FNEL 4.79 Decreased By ▼ -0.03 (-0.62%)
GGGL 8.80 Decreased By ▼ -0.10 (-1.12%)
GGL 14.55 Decreased By ▼ -1.33 (-8.38%)
HUMNL 5.69 Decreased By ▼ -0.08 (-1.39%)
KEL 2.63 Decreased By ▼ -0.03 (-1.13%)
LOTCHEM 28.60 Decreased By ▼ -0.45 (-1.55%)
MLCF 24.49 Decreased By ▼ -0.61 (-2.43%)
OGDC 72.43 Decreased By ▼ -0.02 (-0.03%)
PAEL 15.36 Increased By ▲ 0.01 (0.07%)
PIBTL 5.00 Decreased By ▼ -0.05 (-0.99%)
PRL 16.10 Decreased By ▼ -0.19 (-1.17%)
SILK 1.08 Decreased By ▼ -0.01 (-0.92%)
TELE 9.14 Decreased By ▼ -0.23 (-2.45%)
TPL 7.23 Decreased By ▼ -0.10 (-1.36%)
TPLP 18.61 Decreased By ▼ -0.34 (-1.79%)
TREET 21.68 Decreased By ▼ -0.32 (-1.45%)
TRG 136.71 Decreased By ▼ -4.44 (-3.15%)
UNITY 16.88 Decreased By ▼ -0.14 (-0.82%)
WAVES 9.86 Decreased By ▼ -0.04 (-0.4%)
WTL 1.41 No Change ▼ 0.00 (0%)
BR100 4,225 Decreased By -29.6 (-0.7%)
BR30 15,518 Decreased By -214.7 (-1.36%)
KSE100 42,150 Decreased By -243.4 (-0.57%)
KSE30 15,588 Decreased By -75.7 (-0.48%)
Follow us

BENGALURU: Indian shares extended gains on Wednesday with auto and metal companies leading the recovery as investors bought recent market dips, though a global surge in Omicron COVID-19 cases kept investor sentiment in check.

The NSE Nifty 50 index rose 0.4% to 16,833 by 0456 GMT and the benchmark S&P BSE Sensex gained 0.3% to 56,485.04. Both the indexes were down more than 9% from a lifetime high hit in October.

Wednesday's gains follow a near 1% rise in India's benchmark indexes in the previous session after tumbling as much as 3% on Monday.

"Most of the fears and reaction to negative vibes look to be slightly overdone. Which is why we have seen a recovery rally in the past two sessions," said Anand James, chief market strategist at Geojit Financial Services.

Indian shares fall on inflation worries, hawkish central banks

"Markets have been pricing in most of the actions like US Federal Reserve rate action apart from Omicron. Even though the COVID scare is still there, we are much better prepared and not in a blind spot anymore," James said.

The Nifty auto index was up 1.5%, while the metals index gained 1.3%. Both the indexes had fallen 2.6% and 3.8% in Monday's broader sell-off.

Tata Motors was the top Nifty 50 gainer, rising 2.8%, while Power Grid Corp was the top drag, falling 2.3%.

Footwear retailer Metro Brands made its debut in Mumbai market at a discount of 13% compared with its initial public offering price of 500 rupees.

Meanwhile, India told state governments on Tuesday to be proactive and on the lookout for surges of the Omicron coronavirus variant after cases nearly doubled within a week across a dozen states.

Comments

Comments are closed.

Auto, metals lead continued recovery in Indian shares amid Omicron fears

PTI to quit Punjab, KP assemblies this month: Imran Khan

3 police personnel gunned down in Nowshera

US condemns attack on Pakistani embassy in Kabul, calls for probe

Dutch masters into World Cup quarter-finals as USA downed

OPEC+ will keep oil policy unchanged in review talks: sources

PTI quitting provincial assemblies will be humiliating for its voters: Saad Rafiq

Russia: price cap is ‘dangerous’ and will not curb demand for our oil

Pakistan calls on interim Afghan govt to up security at Kabul embassy after attack

Moonis’ claims on Gen Bajwa raises doubts on institution’s apolitical narrative: Sanaullah

US unveils high-tech B-21 stealth bomber