(RTTNews) – Indian stocks rose sharply on Monday, with positive global indices that helped bolster confidence amid hopes of a coronavirus remedy, as well as the symptoms of a meltdown in tensions between the United States and China.
Investor sentiment was reinforced after U.S. regulators legalized the use of blood plasma from recovered patients as a remedy option for Covid-19.
Separately, a Financial Times report said the Trump administration is considering circumventing overall U.S. regulatory criteria to accelerate an experimental VACCINE against UK coronavirus to be used in the US before the country’s upcoming presidential election.
Meanwhile, a Bloomberg report bringing others close to the issue said Trump’s team was privately seeking to reassure U.S. corporations that they can still do business with the WeChat messaging app in China.
Zee Entertainment Enterprises jumped 4.8% after experienced investor and independent company manager Manish Chokhani bought about 1 lakh of the company’s percentage.
Maruti Suzuki, Bajaj FinServ, ICICI Bank, HDFC Bank, Bajaj Finance, IndusInd Bank and Kotak Mahindra Bank rose from 2 to 3%.
Bharti Airtel over more than 2%, as the Supreme Court reserved the judgment on the Adjusted Gross Income Factor (AGR) of telecommunications companies.
The shares of Adani Group corporations were available amid reports that the organization was about to obtain a 74% stake in Mumbai International Airport. Adani Gas, Adani Transmission, Adani Enterprises and Adani Green Energy rose 4-10%.
On the other hand, Grasim, Hindalco, Adani Ports, Mahindra-Mahindra and Power Grid Corp of India fell from 1 to 2%.