Buoyant Indian markets rallied to a fresh high on Monday, propelled by positive macro indicators and marked progress on coronavirus vaccines. The Sensex hit the 48,000 mark for the first time on investor hopes of a swift economic recovery. The BSE Sensex rose 307.82 points, or 0.64%, to 48,176.80. The Nifty gained 0.82% to 14,132.90.
Shares in other markets in the Asia Pacific also gained. Mainland Chinese stocks and South Korea’s Kospi jumped 1-2.5%. World stock markets hit record highs on Monday, the first trading day of the new year, as investors hoped the rollout of vaccines would ultimately lift a global economy ruined by the pandemic. The post-holiday upbeat mood in India should sustain for 1-2 sessions, said Deepak Jasani, head of retail research, HDFC Securities.
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