Sensex, Nifty hit record high as lenders jump

FILE PHOTO: A man walks out of the Bombay Stock Exchange (BSE) building in Mumbai, India, January 3 2020. REUTERS/Francis Mascarenhas/File Photo

BENGALURU (Reuters) – Indian shares hit another record high on Tuesday, extending their rally backed by foreign inflows, with private-sector lenders gaining the most due to an improving economic outlook.

The NSE Nifty 50 index was up 0.57% at 13,953.10 by 0354 GMT, while the S&P BSE Sensex was 0.6% higher at 47,644.29. Both indexes hit record highs.

Lenders HDFC Bank Ltd and ICICI Bank Ltd were the top boosts to the Nifty.

In encouraging news on the COVID-19 vaccine front, Indian vaccine maker Serum Institute said it expected the British and Indian governments to approve the Oxford/AstraZeneca shot for emergency use within a few days.

Hopes that a U.S. pandemic relief package would be expanded were aiding investor sentiment globally, boosting broader Asian shares.

Source: Read Full Article