BENGALURU: Indian shares hit record highs on Monday, led by gains in Oil and Natural Gas Corp Ltd after the company made a “significant” discovery in South America, although losses in top private sector lender HDFC Bank capped gains.
The NSE Nifty 50 index rose 0.19% to 13,283.15 by 0354 GMT, while the benchmark S&P BSE Sensex was up 0.17% at 45,157.33. Both indexes had registered five straight weeks of gains amid news of progress in coronavirus vaccines.
ONGC climbed 4.6% to its highest since early March after it said on Friday its overseas arm made a “significant strike of oil” in its block in Colombia. (https://bityl.co/4ji9)
Pfizer’s Indian arm rose as much as 2.5% in early trade after a top government health adviser said the U.S. drugmaker had applied for emergency use authorisation of its COVID-19 vaccine in India.
HDFC Bank Ltd dropped 1.8% to its lowest since mid-November and was the biggest drag on the indexes.
The Reserve Bank of India on Thursday halted the lender from sourcing new credit card customers and launching digital businesses due to outages in bank’s internet banking, mobile banking, payment utilities.
Meanwhile, Asian peers were trading lower after Reuters reported that the United States was preparing to impose sanctions on some Chinese officials over their alleged role in Beijing’s disqualification of elected opposition legislators in Hong Kong.
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