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Market Update: India Shares Rise for 4th Session
The BSE SENSEX hovered at near-record highs around midday on Tuesday, rising for the fourth straight session in a row, on hopes that the Federal Reserve might delay tapering following a weaker-than-expected US jobs report on last Friday. Risk appetite was also lifted by news that Indian drug developer Hetero had received emergency use approval from the country’s health authorities to make a generic version of Roche Holding AG’s COVID-19 drug. Meantime, the country reportedly aims to ramp up its medical oxygen production capacity to 15,000 tonnes per day before a potential third wave of coronavirus infections that is expected to hit the country as soon as mid-September. In recent data, total vehicle retails in India for August rose 14.48% yoy. Among gainers, VST Tillers Tractors surged 7.48% after the farm equipment maker said it launched a range of tractors and power tillers in Southern African markets. [/s2If]
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