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Indian Shares Gain on Auto, Tech Boost; Cipla Rises

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BENGALURU Reuters Indian shares rose on Wednesday, helped by automakers and information technology stocks, while drugmaker Cipla climbed after getting a regulatory nod to import partner Modernas COVID19 vaccine.

The bluechip NSE Nifty 50 index rose 0.34 to 15,801.80 and the benchmark SP BSE Sensex gained 0.36 to 52,741.22 by 0354 GMT.

Markets have struggled for momentum this week after briefly scaling record highs on the back of declining COVID19 cases, easing of pandemicinduced restrictions and a surge in vaccinations.

On Wednesday, gains in automaker stocks a day before their monthly sales supported the markets, with the Nifty Auto index gaining 0.59. Maruti Suzuki India rose 1.7 and was the top percentage gainer on the Nifty 50.

The Nifty IT index added 0.48. IT majors Tata Consultancy Services and Infosys will be kicking off Indias firstquarter earnings season over the next few weeks.

Cipla rose as much as 1.8. The drugmaker has received regulatory approval to distribute partner Modernas COVID19 vaccine in India, a senior government official said on Tuesday.

The company is also among five Indian drugmakers that will jointly conduct a clinical trial in the country for Merck Cos experimental antiviral drug to treat mild COVID19.

Conglomerate Reliance Industries rose 0.3. The company has signed an agreement with Abu Dhabi National Oil Co to build a multibilliondollar chemical project in Ruwais.

In global markets, Wall Streets Nasdaq index closed at a record…

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