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Domestic indices rise as Reliance hits record high, Wipro gains

BENGALURU: Indian shares extended gains to a second session on Friday with Reliance Industries climbing to a record high and IT services provider Wipro rising ahead of March-quarter results.
The Nifty 50 index was up 0.52% at 17,333.95, as of 0357 GMT, while the sensex rose 0.53% to 57,830.01.
Upbeat US tech earnings on Thursday helped stocks across the globe clock gains with Indian benchmark indexes rising more than 1%.
Asian shares inched higher on Friday, although investor sentiment remained fragile amid fears about global economic growth and looming US Fed rate hikes.
In India, conglomerate Reliance Industries extended gains to a fourth session, rising 1.3% to scale a record high of 2,856.15 rupees.
All Nifty sub-indexes were trading in positive territory with Nifty’s Pharma sub-index leading the pack, up 2%.
Varroc Engineering soared 20% to its highest since January 2020 after the auto components’ maker said it would divest its 4-wheeler lighting systems operations in the Americas and Europe.
Wipro rose 1.1% and Maruti Suzuki India gained 0.7% ahead of their March-quarter results.




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