Indian shares rose sharply on Wednesday, with financials and healthcare firms pacing the gainers, after RBI Governor Shaktikanta Das allowed the restructuring of retail and MSME loans, as part of a calibrated strategy to tackle the second COVID-19 wave in the country.
The RBI Governor also unveiled a host of other measures to boost fund flow to the healthcare sector and said the second wave was not “insurmountable” and that the future remained “bright”.
Investors shrugged off survey results from IHS Markit showing that the country’s service sector activity expanded at a softer pace in April.
The benchmark 30-share BSE Sensex ended the session up 424.04 points, or 0.88 percent, at 48,677.55, while the broader NSE Nifty index climbed 121.35 points, or 0.84 percent, to 14,617.85.
Sun Pharmaceutical Industries jumped 5.9 percent and was the biggest percentage gainer on the Nifty index. Among other top gainers, Kotak Mahindra Bank, Axis Bank, IndusInd Bank and UPL climbed 2-5 percent.
Adani Ports tumbled 3.6 percent after its Q4 margins missed Street estimates. Bajaj Finance dropped 1.8 percent and SBI Life gave up 1.3 percent.
Sensex Rises 424 Points; Nifty Ends Above 14,600
2021-05-05 11:02:23
