Indian shares open higher as metals gain, Omicron fears ease

The blue-chip NSE Nifty 50 index was up 0.8%

  
Image used for illustrative purpose A general view of the Bombay Stock Exchange (BSE), after Sensex surpassed the 60,000 level for the first time, in Mumbai, India, September 24, 2021.

Image used for illustrative purpose A general view of the Bombay Stock Exchange (BSE), after Sensex surpassed the 60,000 level for the first time, in Mumbai, India, September 24, 2021.

REUTERS/Francis Mascarenhas

BENGALURU: 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. 

(Reporting by Shivani Singh in Bengaluru; Editing by Subhranshu Sahu) ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))


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