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How Nasdaq-Rally Led Nifty50 to Open in Green on Dec 8; Positive News on Omicron


By Malvika Gurung

Investing.com — Ahead of the Monetary Policy statement by the RBI Governor Shaktikanta Das, Dalal Street opened strong on Wednesday, with the Indian equity benchmarks and starting the session on a positive note.

At 9:42 am, Nifty50 was trading 1.3% higher and the 30-scrip Sensex was up 1.2%. This was a result of strong cues from global markets. Wall Street closed at a high on Tuesday’s session, majorly driven by the technology-heavy .

British drugmaker GSK (LON:) informed on Tuesday that its antibody-based COVID-19 therapy with U.S. partner Vir Biotechnology Inc (NASDAQ:) was effective against all mutations of the new Omicron coronavirus variant, citing data from early-stage studies, states Reuters.

Tracking this development, investors shook off concerns around the Omicron variant and traded heavily in technology stocks, among others.

Nasdaq ended Tuesday’s session 3.03% higher after Intel (NASDAQ:) announced plans to make its self-driving car unit, Mobileye public in mid-2022. The chipmaker acquired the Israeli driving firm in 2017. 

Intel’s stock surged 4% to $53/share in morning trade on Tuesday and ended the session at a 3.10% high for $52.57/share.



Read More : How Nasdaq-Rally Led Nifty50 to Open in Green on Dec 8; Positive News on Omicron

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