Indian shares jumped more than 3% today to extend gains to the fourth day as sentiment improved on promising early results from a COVID-19 drug trial.
The indexes closed the month with about 14% gains or 4,200 points higher. This is the biggest monthly gain since May 2009 after rebounding from a near 23% slump in March as the coronavirus hammered markets.
India is also expected to roll out a stimulus package to help mitigate the damage from the health crisis. The Sensex today closed 3% or about 1,000 points higher at 33,717 while Nifty settled 3.2% higher at 9,859.
The Sensex is up about 31% from March 24 lows of of 25,638. Global markets today rallied after early results from US-listed Gilead's trial of its drug remdesivir showed on