Indian shares hit record closing highs for the second day running on Tuesday as positive early results from a coronavirus vaccine trial boosted hopes of a swifter global economic recovery.
Huge gains for BHP in Bihar Assembly elections and bypolls in various states such as Madhya Pradesh, Gujarat, Uttar Pradesh and Karnataka also helped underpin investor sentiment.
The BJP looked like emerging as the single-largest party in Bihar, where full polls were held. As per the Election Commission, the NDA was ahead on 128 seats and the Grand Alliance was leading on 106 in the 243-member Assembly as counting continued well into the evening.
The benchmark S&P BSE Sensex hit as high as 43,316.44 before ending the session up 680.22 points, or 1.60 percent, at 43,277.65. The broader NSE Nifty index settled at 12,631.10, up 170.05 points, or 1.36 percent, from its previous close.
SBI, Bajaj Finserv, Larsen & Tourbo, IndusInd Bank and Bajaj Finance jumped 6-9 percent in the Nifty pack, while Nestle India, Divis Laboratories, HCL Technologies, Cipla and Tech Mahindra lost 4-6 percent.
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