By Derek Francis
BENGALURU, Nov 10 (Reuters) - India's main stock indexes closed higher on Tuesday after scaling new peaks during the session as progress in the development of a coronavirus vaccine raised hopes for a global economic recovery, helping domestic airline and hotels stocks that have been hammered by the pandemic.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was 0.1% higher after Pfizer Inc (NYSE: PFE ) PFE.N said on Monday its experimental COVID-19 vaccine showed over 90% effectiveness based on initial trial results. MKTS/GLOB
The U.S. drugmaker's Indian arm, Pfizer Ltd PFIZ.NS , gained as much as 19.8% during the session.
"While there have been previous announcements of a vaccine, a company like Pfizer coming with such a development and with high efficacy is quite positive for markets," said Ajit Mishra, vice-president at Religare Broking.
GAIL (India) GAIL.NS rose nearly 5% after its September-quarter profit beat estimates and the natural gas explorer approved raising 100 billion Indian rupees ($1.35 billion) through borrowings. other sectors, the Nifty Bank index .NSEBANK ended 3.9% higher and the financials index .NIFTYFIN climbed 4.1%. Both indexes recorded gains for a seventh straight session.
Construction-to-software conglomerate Larsen and Toubro LART.NS rose about 7%.
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