Sensex, Nifty Up Over 1% In Early Trade

(RTTNews) - Indian shares opened sharply higher on Wednesday after the Indian Council of Medical Research (ICMR) said that two indigenous vaccine candidates for Covid-19 will enter human trials this month.

Positive global cues also helped underpin sentiment after Moderna Inc's experimental vaccine for Covid-19 showed an encouraging response in an initial safety trial.

The benchmark S&P BSE Sensex jumped 450 points, or 1.25 percent, to 36,480 in early trade, while the broader NSE Nifty index was up 123 points, or 1.16 percent, at 10,730.

Wipro soared 10 percent after its Q1 margins and profits topped forecasts.

Infosys climbed 3 percent after winning a large multi-year IT contract from investment firm Vanguard. Also, the company will unveil its quarterly earnings today.

Reliance Industries advanced 1.4 percent on a Bloomberg report that Google is in advanced talks to buy a stake in its digital arm Jio Platforms.

Bharti Airtel shed 0.7 percent and Vodafone Idea lost over 1 percent after Jio Infocomm asked to be made a party in the case involving lucrative data plans.

Yes Bank rallied 2.6 percent amid the launch of its Rs 15,000-crore follow-on public offering.

Lupin was marginally lower. The company shut one of its manufacturing plants in Gujarat after at least 8 employees at the site tested positive for Covid-19.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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