NEW DELHI: Indian stock markets ended 1% higher but off their intraday gains of over 2% as excitement about a potential covid-19 vaccine fizzled out.
Rising cases of infection in the country weighed on investor sentiment. The BSE Sensex ended at 30,196.17, up 167.19 points or 0.6%, while the 50-share Nifty closed the day at 8,879.10, up 55.85 points or 0.63%.
Asian peers had rallied on hopes of a vaccine following a promising development from a Moderna trial. Stocks in Japan, Hong Kong, China and Korea had gained 1-2%.
Moderna Inc reported “positive" phase one results for a potential coronavirus vaccine. The company said after two doses, all 45 trial participants had developed coronavirus antibodies.