By Aditya Raghunath
Investing.com -- Indian indices gained momentum on the back of global news on the vaccine front ending at new record highs. Serum Institute of India, the world's largest producer of vaccines by volume, said that it has applied for emergency use approval for AstraZeneca’s COVID-19 vaccine. Nifty closed 97.2 points or 0.73% up at 13,355.75 and BSE Sensex 30 closed up 347.42 points or 0.77% up at 45,426.97.
United Phosphorous rose 4.56% and Adani (NS: APSE ) Ports surged 3.59% after a strong day on the markets. Banking, FMCG, and pharma stocks led the charge today on the indices. Bank Nifty was up 159 points with Bandhan Bank Ltd (NS: BANH ) gaining over 4%, and RBL Bank Ltd (NS: RATB ) SBI (NS: SBI ), and IndusInd (NS: INBK ) gaining over 2% each. HDFC (NS: HDFC ) and Kotak Mahindra Bank Ltd. (NS: KTKM ), both lost on the indices today.
On the FMCG index, Hindustan Unilever Ltd. (NS: HLL ) moved 3.24% higher while Varun Beverages Ltd (NS: VARB ) and ITC (NS: ITC ) gained over 2% each. Lupin (NS: LUPN ) gained 3.51% on the Pharma index while Dr. Reddy’s Laboratories Ltd (NS: REDY ) and Sun Pharma (NS: SUN ) gained over 2% each.
All three major US futures are trading lower at the time of this report: Dow Jones 30 Futures is lower by 0.41% while Nasdaq is down 0.08%, and S&P is down 0.41%, on the last look. U.S. stocks are seen opening lower Monday, consolidating after record gains and amid concerns about further lockdowns as Covid-19 cases grow.
Investors have been buoyed by the rapid progress towards the global rollout of Covid-19 vaccines, but it will take time for normalcy to resume and in the meantime, the Covid-19 virus continues to claim victims. Adding to the uncertainty Monday were reports that the U.S. is planning to impose sanctions on at least a dozen Chinese officials over their roles in the disqualification of four Hong Kong opposition leaders in November.
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