Sensex opens 264 points higher at 44,341 points; Nifty opens at 13,000 for the first time

Sensex opens 264 points higher at 44,341 points; Nifty opens at 12,997 points

Indian shares scaled a record high on Tuesday in broad-based gains, as progress on U.S. President-elect Joe Biden’s transition to the White House and optimism around another COVID-19 vaccine helped boost investor sentiment globally.

A screen on the facade of BSE building displays stock prices. (PTI)

The NSE Nifty 50 index surpassed the psychologically important 13,000 level for the first time ever and was up 0.74% at 13,021.05 by 0400 GMT. The S&P BSE Sensex was 0.72% higher at 44,391.79.

All 12 Nifty sub-indexes were trading higher, with banks leading the pack. HDFC Bank and ICICI Bank were the top two boosts to the Nifty 50.

The Serum Institute of India, the world’s top vaccine manufacturer, will first focus on supplying AstraZeneca’s COVID-19 vaccine to India, Serum’s chief said on Monday, potentially increasing the chances of the shot becoming available quickly in the world’s second worst-hit country.

Other Asian markets were also trading higher on Tuesday after Biden was given the go-ahead to begin his White House transition.