BENGALURU, Dec 8 (Reuters) - Indian shares closed at a
record high on Tuesday as gains in heavyweights Reliance
Industries and Tata Consultancy Services helped offset losses in
pharmaceuticals and metal sectors.
The NSE Nifty 50 index rose 0.28% to 13,392.95,
gaining for a sixth straight day, while the benchmark S&P BSE
Sensex ended up 0.4% at 45,608.51.
The indexes have risen more than 3% so far in December,
hitting record highs in 13 of the last 20 sessions as markets
cheer progress in coronavirus vaccine developments.
The gains also come as India reported its lowest daily
increase in coronavirus cases since July 10, according to a
Reliance, India's biggest company by market value,
rose 1.8% to its highest close since mid-November, providing the
largest boost to the indexes.
Jio, the conglomerate's telecom unit that has disrupted the
industry, will pioneer 5G in India in the second half of 2021,
Chairman Mukesh Ambani said in a speech at the India Mobile
Congress, adding that policy steps were needed for the early
roll-out of the technology.
India's largest IT firm, Tata Consultancy Services Ltd
, also boosted the indexes, climbing 2.2% to a near
State-run Canara Bank Ltd surged 16.7% after it
launched a qualified institutional placement of shares to raise
20 billion rupees ($271.87 million).
Sun Pharmaceutical Industries Ltd slid 2.3%,
dragging the Nifty Pharma Index 1.2% lower. The Nifty
Metal Index fell 1.2%.
Meanwhile, MSCI's broadest index of Asia-Pacific shares
narrowed losses from early trade as Japan
announced a new $700 billion stimulus package, but was still
down 0.1% as anxiety over the pandemic capped sentiment.
($1 = 73.5637 Indian rupees)
(Reporting by Chris Thomas in Bengaluru;
Editing by Vinay Dwivedi)