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Sensex, Nifty Seen Higher On Global Cues

(RTTNews) - Indian shares look set to open higher on Wednesday amid bets that India will be among the few economies to recover fast after Covid-19.

The government on Tuesday launched three major schemes to promote electronic manufacturing in the country and help local firms become global champions.

In another development, the Drug Controller General of India has approved
Gilead Sciences Inc's antiviral drug remdesivir for emergency use in treating Covid-19 patients, Lav Aggarwal, joint secretary in the health ministry, said.

Benchmark indexes Sensex and the Nifty jumped around 1.6 percent on Tuesday as optimism over gradual easing of the lockdown curbs coupled with positive cues from global markets helped investors brush off Moody's first rating downgrade for India in 22 years. The rupee ended stronger at 75.34 against the U.S. dollar.

Asian markets extended a global rally as investors cheered prospects of more government stimulus and a global economic recovery from the coronavirus pandemic.
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