Sensex Gains 385 Points; Nifty Tops 17,050

(RTTNews) - Indian shares rose for the third straight session on Thursday, tracking firm cues from global markets after separate studies indicated the Omicron variant poses a lower risk of severe disease and hospitalization than the Delta variant.

Additional support came as rating agency ICRA said that profitability of sugar, fertilizer and dairy sectors will remain stable in FY22.

The benchmark 30-share BSE Sensex rose 384.72 points, or 0.68 percent, to settle at 57,315.28, while the broader NSE Nifty index ended the session up 117.15 points, or 0.69 percent, at 17,072.60.

Bajaj Finance, ITC, ONGC, IOC and Power Grid Corp jumped 2-4 percent while UltraTech, Sun Pharma, Bharti Airtel, JSW Steel and Divis Laboratories dropped 1-2 percent.

MedPlus Health Services shares made a strong debut at the exchanges. Shares of the pharmacy chain operator closed at Rs. 1,120 on the NSE on the first day of listing, as against its initial public offering price of Rs 796 per share.