Indices reach 4-month high on Covid-19 vaccine hopes; Sensex up 429 points

Experts said the markets also cheered signs of recovery in jobs and manufacturing after the economy reopened in June after a prolonged lockdown

The benchmark indices ended at a near four-month high on Thursday as positive developments in early-stage coronavirus vaccine trial soothed worries over rising number of cases at home. The rupee, too, rose against the US dollar.

The NSE Nifty50 index ended 1.17 per cent higher at 10,552, while the S&P BSE Sensex jumped 1.21 per cent, or 429 points, to 35,843.7, the best closing levels for the indices since March 6. The rupee ended at 75.01 against the dollar, its best closing since March 27.
 

Global markets, too, were upbeat after a Covid-19 vaccine from Pfizer and BioNTech was found