Indian shares ended higher on Wednesday as a clutch of robust data underlining the economy’s recovery from the COVID-19 pandemic lifted stocks of metals, auto, and banking companies.
The blue-chip NSE Nifty 50 index added 1.08% to 17,166.90 and the benchmark S&P BSE Sensex climbed 1.09% to 57,684.79.
India’s gross domestic product expanded by 8.4% in the July-to-September quarter – at a faster pace than any major economy in the period – but fears have risen that the Omicron coronavirus variant could slow the momentum.
A separate report also showed 1.32 trillion rupees were collected last month in gross goods and services tax – a 25% jump from a year earlier and the second-highest since the introduction of the tax in 2017.
The market was also supported by a private survey that India’s manufacturing activity in November grew at the fastest pace in 10 months.
The Nifty Auto index ended up 1.46%, led by Tata Motors, which rose to a near one-month high after its domestic sales of passenger vehicles in November rose 38%..