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Nifty, Sensex Gain On HDFC Bank Boost, U.S. Stimulus Hopes

Nifty, Sensex Gain On HDFC Bank Boost, U.S. Stimulus Hopes

Indian shares rose on Monday, led by gains in HDFC Bank after the lender posted a rise in quarterly profit while market sentiment was also boosted by hopes of a U.S fiscal package and expectations of a COVID19 vaccine by the end of this year.

BENGALURU: Indian shares rose on Monday, led by gains in HDFC Bank after the lender posted a rise in quarterly profit while market sentiment was also boosted by hopes of a U.S fiscal package and expectations of a COVID-19 vaccine by the end of this year.

The NSE Nifty 50 index was up 0.76% at 11,852.05 by 0346 GMT, while the S&P BSE Sensex was 0.80% higher at 40,304.70.

Asian stocks rose after drugmaker Pfizer Inc said it could have a coronavirus vaccine ready in the United States by the end of this year and U.S. House Speaker Nancy Pelosi said she was optimistic legislation on a coronavirus relief package could be pushed through before the presidential election.

In Mumbai trading, the Nifty Bank index rose 1.6%, with shares of HDFC Bank adding nearly 3% after posting an 18.4% rise in quarterly profit.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor


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