BENGALURU (Reuters) – Indian shares rose to an all-time high on Monday in broad-based gains as strong December-quarter corporate earnings raised hopes of a quick economic recovery.
The NSE Nifty 50 index was 0.84% higher at 15,290.85 by 0355 GMT, while the S&P BSE Sensex was up 0.94% at 52,029.80. Both indexes hit record highs in early trading.
Thirteen of 14 sectoral indexes were higher, with banks leading the gains. HDFC Bank and ICICI Bank were among the biggest boosts to the Nifty 50.
On Friday, data showed India’s retail inflation stayed within the central bank’s target range for the second consecutive month in January.
Other Asian stocks also hit record highs on Monday as successful coronavirus vaccine rollouts globally boosted risk sentiment.
Reporting by Sachin Ravikumar in Bengaluru; Editing by Subhranshu Sahu