BENGALURU, July 5 (Reuters) - Indian shares ended points
away from record levels on Monday, lifted by strong gains in
financials and on hopes of a sustained economic recovery with
wider availability of COVID-19 vaccines.
The blue-chip NSE Nifty 50 index closed 0.71% higher
at 15,834.35 and the benchmark S&P BSE Sensex ended up
0.75% at 52,880. The Nifty 50 is on track to reverse the 0.87%
drop clocked last week.
Both indexes scaled all-time highs last month aided by a
steady dip in COVID-19 cases, relaxation of pandemic-led curbs
and a rise in daily vaccinations. With software services giant
Tata Consultancy Services set to report first quarter
earnings on July 8, investors are hopeful that strong results
will boost the market sentiment.
The Nifty Bank index closed up 1.16%, boosted by
top private sector lender HDFC Bank. The lender's
shares ended 1.1% higher after it reported strong growth in
loans and deposits. The Nifty PSU Bank index also
closed 0.93% higher.
Shares of top automakers helped the Nifty Auto index close
0.57% higher as Royal Enfield-maker Eicher Motors,
Bajaj Auto and Jaguar Land Rover-parent Tata Motors
ended between 0.4% and 1.7% higher on June sales data.
Panacea Biotec shares rose as much as 9% after the
biotechnology firm got the Indian drug regulator's nod to
manufacture the Russian Sputnik V vaccine.
The Economic Times reported Moderna's COVID-19 vaccine was
likely to be available in a few major government hospitals in
India by July 15.
Shares of agrochemical firm India Pesticides
jumped as much as 24.3% to 368 rupees in their market debut.
Global markets were hovering close to record highs on Monday
as worries about the Delta variant of COVID-19 offset positive
sentiment from surging euro zone business activity and a U.S.
jobs report signalling an intact economic recovery.
(Reporting by Shivani Singh in Bengaluru; Editing by Shailesh