Indian shares rose sharply on Monday and the rupee gained ground, as investors cheered positive earnings updates and the U.S. announcement that it would remove bottlenecks in the export of raw materials essential for the production of vaccines in India.
Medical support from countries including Britain and Germany to help India battle the crisis along with acceleration of the mass vaccination drive in the country also supported sentiment.
The benchmark 30-share BSE Sensex ended the session up 508.06 points, or 1.06 percent, at 48,386.51, while the broader NSE Nifty index climbed 143.65 points, or 1.00 percent to 14,485.
Axis Bank surged 4.2 percent ahead of its earnings release, while ICICI Bank rallied 3.3 percent after posting strong quarterly results for the March quarter.
Grasim, UltraTech and JSW Steel all rose over 3 percent.
HCL Technologies lost 2.7 percent and Mahindra & Mahindra Financial slumped 8.7 percent on positing disappointing results for the March quarter.
BPCL, Britannia Industries and Cipla dropped 1-3 percent.
Sensex Gains 508 Points; Nifty Nears 14,500
2021-04-26 11:31:41
