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Sensex, Nifty close at record highs as more states ease Covid curbs

The blue-chip NSE Nifty 50 index rose 0.39% to 15,799.35 and the benchmark S&P BSE Sensex closed 0.33% higher at 52,474.76.

Investor sentiment was also boosted by a rally in global stock markets after U.S. consumer price index data on Thursday. (Photo: Reuters)

Indian shares ended at a record high on Friday, gaining for a fourth consecutive week as more states eased pandemic restrictions, with investors seeming confident that high U.S. inflation was transitory following the latest reading.

The blue-chip NSE Nifty 50 index rose 0.39% to 15,799.35 and the benchmark S&P BSE Sensex closed 0.33% higher at 52,474.76.

“The stock market is solely focused on the future. Hopes of a quick economic revival post unlock and expectation of large number of adult population vaccinated in 2021, are keeping markets excited,” Amar Ambani, head of research, institutional equities at Yes Securities, said in a note.

The southern Indian state of Karnataka, home to the tech hub Bengaluru, announced on Thursday it would ease some COVID-19 restrictions in a phased manner.

The country’s richest state Maharashtra, Prime Minister Narendra Modi’s home state of Gujarat and the Indian capital New Delhi have already announced relaxations.

Investor sentiment was also boosted by a rally in global stock markets after U.S. consumer price index data on Thursday supported the Federal Reserve’s easy monetary policy stance that the current wave of heightened inflation will be temporary.

Click here for IndiaToday.in’s complete coverage of the coronavirus pandemic.

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