Sensex, Nifty scale record highs after positive Covid-19 vaccine developments – Times of India

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BENGALURU: Equity indices opened at record highs on Tuesday, playing catch-up with overseas gains after a long weekend on news that US drugmaker Moderna Inc’s coronavirus vaccine was 94.5% effective in preventing infection.
The blue-chip NSE Nifty 50 index rose as much as 1.2% to hit an all-time peak of 12,934.05 in early trade and the benchmark S&P BSE Sensex gained 1.19% to touch a new high of 44,161.16.
Markets had made modest gains in a special “muhurat” one-hour trading session for Diwali on Saturday, and were closed on Monday.
Cambridge, Massachusetts-based Moderna Inc became the second drugmaker after Pfizer Inc to announce promising trial data in the development of a Covid-19 vaccine, helping US stock indexes post record closing highs and pushing Asian stocks into record territory.
Indian drugmaker Biological E Ltd on Monday became the latest company in the country to start human trials of its vaccine candidate.
In Mumbai, the Nifty Bank Index rose 0.99%, while the Nifty energy index was up 0.71%. The Nifty IT index was among the few sectors trading in negative territory, down 0.25%.



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