India stocks hit record highs on economic recovery hopes | Malay Mail

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MUMBAI, Jan 25 — Indian stocks hit record highs Thursday, tracking a global rally after the inauguration of US President Joe Biden and reflecting hopes of a domestic economic recovery following this month’s vaccine roll-out. The Bombay Stock Exchange’s Sensex index rose 0.5 per cent to pass...

The Bombay Stock Exchange’s Sensex index rose 0.5 per cent to pass the 50,000 mark for the first time ever, extending recent gains on the back of strong corporate earnings, especially in India’s bellwether IT sector. — Reuters pic

Asia’s third-largest economy has struggled to revive demand, contracting by nearly a quarter between April and June last year as a hastily-announced shutdown put millions out of work even as cases climbed, making it the second-most infected country in the world. “The absence of renewed lockdowns means that economic activity will normalise quite quickly,” said Ashutosh Datar, an independent economist.

 

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