Indian shares ended higher on Wednesday, as financial stocks recovered from profit-taking in late afternoon trade after the government said it was working on another stimulus package.
The NSE Nifty 50 index closed up 0.34% at 11,937.65, while the S&P BSE Sensex ended 0.4% higher at 40,707.31.
The Nifty Volatility Index rose as much as 3.8% during the session to a near four-week high.
The Nifty 50 retreated as much as 1.02% in afternoon trade after crossing the psychological 12,000-mark, hit by a sharp fall in bank stocks that regained ground later to help the Nifty Bank index close 1.33% higher.
India's government is working on the next stimulus package to support the economy amid positive signs of a fall in COVID-19 cases, a senior finance ministry official said on Wednesday.
Financials were the top boosts on the blue-chip index, with top lender HDFC Bank, HDFC Ltd and ICICI Bank Ltd adding between 1.4% and 1.9%.
04 Dec 2020 04:48 PM
India's benchmark stock index retreated to close above 45,000 points for the first time ever as the RBI upgraded its GDP target for the current fiscal year and kept interest rates steady amid high inflation.
04 Dec 2020 03:57 PM
Indian rupee stayed higher tracking uptick in regional peers
04 Dec 2020 11:51 AM
Indian equities touched record highs after the RBI kept interest rates steady due to high inflation, and retained its accommodative monetary policy stance
04 Dec 2020 11:35 AM
Yuan rose to a fresh 2 1/2-year high against a weakening dollar, despite fresh signs of tension between the US and Chinese economy.
04 Dec 2020 11:01 AM
Gold prices strengthened and are on track for their first weekly gain in a month, as growing optimism over a U.S. fiscal stimulus deal pressured the dollar and boosted Gold appeal as an inflation hedge.
04 Dec 2020 10:44 AM
Indian rupee was trading at 73.73/73.74 compared to 73.90/ 73.91 in the previous session, as the Dollar Index continued to decline in anticipation of the U.S. monthly non-farm payrolls report.