Sensex, Nifty end higher; Burger King more than doubles in market debut

A dealer trades on his laptop terminal at a inventory brokerage agency in Mumbai, India, January 20, 2016. REUTERS/Shailesh Andrade/Files

BENGALURU (Reuters) – Indian shares ended greater on Monday after scaling document peaks earlier in the session, with Burger King India hovering more than 100% in its market debut and positive aspects in drugmaker Cipla serving to enhance the Nifty.

The blue-chip NSE Nifty 50 index ended up 0.33% at 13,558.15 whereas the benchmark S&P BSE Sensex rose 0.34% to 46,253.46. Including as we speak’s session, each indexes have now hit document highs in 16 of 24 classes.

Indian shares have posted six straight weeks of positive aspects, boosted by document inflows from international institutional buyers, progress on COVID-19 vaccines globally and indicators of a nascent financial restoration in the nation.

Shares of Burger King India, which runs the franchise of Restaurant Brands International Inc’s U.S. chain Burger King, more than doubled in worth in their market debut and ended at 135 rupees, almost 2.three instances the preliminary public providing value of 60 rupees per share, signalling upbeat sentiment for the nation’s meals companies sector.

Cipla Ltd closed 4.4% greater and was among the many prime share gainers on the Nifty, after the corporate on Friday stated it had settled patent litigation with Bristol-Myers Squibb unit Celgene over most cancers drug Revlimid.

Cipla’s transfer helped the Nifty Pharma Index end 0.76% greater.

The authorities can be set to launch retail inflation knowledge for the month of November later in the day. India’s retail inflation remained above 7% in October for a second straight month.

MSCI’s broadest index of Asia-Pacific shares outdoors Japan rose 0.1% as buyers cheered progress on coronavirus vaccines, extension of Brexit talks, and gauged the possibility of added U.S. fiscal and financial stimulus.

Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Vinay Dwivedi

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