The S&P BSE Sensex and NSE Nifty 50 indexes rallied for seventh session in a row to close at record highs for second straight session as investors’ confidence got a boost after pharma major Pfizer said that its vaccine being jointly developed by Pfizer and BioNTech was 90 per cent effective in preventing Covid-19 infections triggering hopes of a faster global economic recovery. The Sensex rose as much as 719 points to hit record high of 43,316.44 and Nifty 50 index climbed as much as 182 points to hit an all-time high of 12,642.55.
The Sensex rallied 680 points or 1.60 per cent to close at an all-time high of 43,277.65 and NSE Nifty 50 index advanced 170 points or 1.36 per cent to settle at record high of 12,631.
“The vaccine news is a big relief for markets and investors are hoping that the economic recovery will take place sooner,” said Samrat Dasgupta, chief executive officer at Esquire Capital Investment Advisors told news agency Reuters.
Meanwhile, Bharatiya Janata Party (BJP) led alliance – National Democratic Alliance (NDA) leading in Bihar state assembly elections also added to investors’ enthusiasm, analysts said.