Indian shares close at near record levels on financial boost, vaccine availability

India Pesticides

05/07/2021 11:31

BENGALURU, July 5 (Reuters) - Indian shares ended points
away from record levels on Monday, lifted by strong gains in
financials and on hopes of a sustained economic recovery with
wider availability of COVID-19 vaccines.
    The blue-chip NSE Nifty 50 index  .NSEI  closed 0.71% higher
at 15,834.35 and the benchmark S&P BSE Sensex  .BSESN  ended up
0.75% at 52,880. The Nifty 50 is on track to reverse the 0.87%
drop clocked last week.
    Both indexes scaled all-time highs last month aided by a
steady dip in COVID-19 cases, relaxation of pandemic-led curbs
and a rise in daily vaccinations. With software services giant
Tata Consultancy Services  TCS.NS  set to report first quarter
earnings on July 8, investors are hopeful that strong results
will boost the market sentiment.
    The Nifty Bank index  .NSEBANK  closed up 1.16%, boosted by
top private sector lender HDFC Bank  HDBK.NS . The lender's
shares ended 1.1% higher after it reported strong growth in
loans and deposits.  urn:newsml:reuters.com:*:nL3N2OH14T The Nifty PSU Bank index also
closed 0.93% higher. 
    Shares of top automakers helped the Nifty Auto index close
0.57% higher as Royal Enfield-maker Eicher Motors  EICH.NS ,
Bajaj Auto  BAJA.NS  and Jaguar Land Rover-parent Tata Motors
 TAMO.NS  ended between 0.4% and 1.7% higher on June sales data.
    Panacea Biotec shares  PNCA.NS  rose as much as 9% after the
biotechnology firm got the Indian drug regulator's nod to
manufacture the Russian Sputnik V vaccine.  urn:newsml:reuters.com:*:nL3N2OH122
    The Economic Times reported Moderna's COVID-19 vaccine was
likely to be available in a few major government hospitals in
India by July 15.  urn:newsml:reuters.com:*:nFWN2OF0EJ
    Shares of agrochemical firm India Pesticides  IDIP.NS 
jumped as much as 24.3% to 368 rupees in their market debut.
    Global markets were hovering close to record highs on Monday
as worries about the Delta variant of COVID-19 offset positive
sentiment from surging euro zone business activity and a U.S.
jobs report signalling an intact economic recovery.  MKTS/GLOB 

 (Reporting by Shivani Singh in Bengaluru; Editing by Shailesh
Kuber)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))