Picture used for illustrative purpose. AFP

Gulf Today Report

Indian shares advanced on Monday as Reliance Industries Ltd and HDFC Bank Ltd record gains as President Trump signs the pandemic aid bill.

The NSE Nifty 50 index was up 0.68% at 13,842.45 by 04:47 GMT, while the S&P BSE Sensex was 0.61% higher at 47,261.09.

So far in December, the Nifty and Sensex index has recorded 7% gain, the Nifty has reached 11 times high this month. 

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Deepak Jasani, head of research at HDFC Securities said, "absence of negative trigger is more relevant now, there is no sign of reversal of liquidity or interest rate trajectory and as long as those signs are not there, markets will continue to chug along."

Reliance Industries advanced by 1.2%, its highest since Dec.21 while HDFC Bank jumped 1.35%, gaining for a fourth straight session.