Stocks gained nearly 1% on Friday, with the Nifty hitting fresh highs on improved prospects of economic recovery. Investors bet that the regional lockdowns will be relaxed soon as daily new covid infections declined.
A rally in global equities also lifted Indian stocks as investors worldwide turned their focus to a multi-trillion-dollar spending boost proposed by US President Joe Biden.
The National Stock Exchange’s Nifty index reclaimed the record high mark after nearly three months. The 50-share index hit 15,469.65, surpassing the previous record of 15,431.75 on 16 February. The Nifty rose 97.80 points, or 0.64%, to close at 15,435.65. The BSE Sensex gained 307.66 points, or 0.60%, to close at 51,422.88.
