BENGALURU: Indian shares ended more than 1.5% higher on Tuesday, with banking and metal stocks bouncing back from the previous session after fears about the potential severity of the Omicron coronavirus variant eased.

At the closing bell, the blue-chip NSE Nifty 50 index and the benchmark S&P BSE Sensex were both up 1.56% at 17,176.60 and 57,633.65, respectively. Nifty 50 and Sensex witnessed their best day since Sept. 23.

Dr. Anthony Fauci, the top US infectious disease official, told CNN on Monday that it does not look like Omicron has a “great degree of severity.” The Nifty bank index inched up to close 2.47% higher, its best day since May 21. Shares of Kotak Mahindra Bank were up 2.8% and Axis Bank up 3.6% after a report said.