Indian shares gain as Burger King makes market debut
- 14 Dec 2020
Gulf Today Report
Indian shares recorded surge following Burger King India gaining almost 100% in its market debut.
The blue-chip NSE Nifty 50 index was up 0.25% to 13,548.10 and the benchmark S&P BSE Sensex was up 0.26% to 46,217.30.
Indian shares have recorded gains for six consecutive weeks, aided by the flow of income from foreign institutional investors and optimism for a vaccine-led economic recovery.
READ MORE
Gold eases as COVID-19 vaccine rolls out
Oil prices gain on hope for a vaccine-led economic revival
Impact of COVID-19 on e-commerce discussed
Burger King India traded at nearly double its offering of 60 rupees per share.
The Nifty Bank Index rose 0.63%, while the Nifty Pharma Index was up 0.33%.
Oil and Natural Gas Corporation and Coal India led the gains on the Nifty, soaring by 3.5% and 3.2 %.
According to statistics by the government, industrial production for October increase by 3.6% from a year ago.
