Sensex extends gains to second straight day lifted by HDFC, Infosys

Domestic equity benchmarks extended gains to a second straight day on Thursday as investors cheered the US administration’s decision to back a waiver on intellectual property rights on Covid-19 drugs, but caution prevailed among soaring infections.

Analysts say the move will likely aid the mass production of vaccines across the world, taming the violent spread of the pandemic.

The S&P BSE Sensex index ended 272.21 points higher at 48,949.76 and the broader NSE Nifty 50 benchmark settled at 14,724.80, up 106.95 points from its previous close.

Hindalco was the top gainer in the Nifty50 pack, ending up 5.67 per cent. Hero MotoCorp, Wipro, Tata Motors and Tata Steel were among other gainers in the 50-strong index.

On the other hand, UPL was the top laggard, down 1.43 per cent. Bajaj Finserv, Power Grid, Sun Pharma and NTPC were among other losers.

Analysts awaited Q4 results from more large cap companies for cues.

A record surge in domestic coronavirus cases fuelled worries that the second wave of the pandemic could derail a nascent recovery seen in the economy. India reported more than 4,00,000 coronavirus infections over the last 24 hours, taking the total tally past 21 million, while deaths rose by a record 3,980, according to health ministry data.

THIS IS A DEVELOPING STORY. MORE TO COME…