Markets post strong gains for a second day, key indices gain 1.3% each

The new variant had rattled the markets, with several countries imposing travel restrictions, raising questions about whether the global economic recovery could sustain

The benchmark indices rose sharply for a second straight day on Thursday as optimism surrounding India's improving macroeconomic data helped offset fears of the spread of the new coronavirus variant.

The Sensex soared 776 points, or 1.3 per cent, to finish at 58,461, while the Nifty jumped 234 points to end the session at 17,401. In the past two trading sessions, the Sensex has added 1,396 points, or 2.4 per cent.

A bunch of economic indicators released on Tuesday and Wednesday showed that the economy was on the path of recovery despite grappling with Covid-19. India’s gross domestic product grew 8.4 per