Markets see biggest rally in two months as Covid numbers drop

Dalal Street cheered India's moderating Covid tally as the domestic benchmark indices logged their best single-day rally in almost two months.

Nifty Bank surged 4% to record the biggest single-session gain since the budget day, contributing the most to a near 2% surge in Nifty and Sensex on Monday.

Nifty ended the session 1.67% higher at 14,923 and the Sensex closed 848 points higher at 49,580.

Shares of Hester Biosciences have rallied 33% in the past two trading days, after the company said it has tied up with the Gujarat government to explore the production of Covid-19 vaccine through technology transfer from Bharat Biotech.