🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Nifty hit record high as banks, Reliance gain

Published 03-12-2020, 09:40 am
Updated 03-12-2020, 09:42 am
© Reuters.

BENGALURU, Dec 3 (Reuters) - Indian shares rose to a record high on Thursday, led by finance stocks and market heavyweight Reliance Industries , as upbeat coronavirus vaccine developments fuelled risk appetite globally.

The NSE Nifty 50 index .NSEI climbed 0.45% to 13,173.15 by 0349 GMT and was on course for a third straight session of gains, while the benchmark S&P BSE Sensex .BSESN was up 0.39% at 44,792.01.

Boosting sentiment was news that Britain became the first Western country to approve a COVID-19 vaccine, with doses of the Pfizer-BioNTech vaccine available for those at high risk starting next week. Mumbai, the Nifty Bank Index .NSEBANK climbed nearly 1% after sliding 1.2% in the previous session. Top private-sector lender HDFC Bank Ltd HDBK.NS was the biggest boost to the indexes, rising as much as 1.6%.

India's largest company by market value, Reliance Industries Ltd RELI.NS , rose nearly 1% to its highest in more than a week.

Data released late Wednesday showed India's trade deficit in November narrowed 21.93% from a year earlier, as imports fell sharply compared to the drop in exports.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.