American pharmaceutical giant Pfizer and its German partner BioNTech said they have concluded phase 3 study of their mRNA-based COVID-19 vaccine candidate BNT162b2, meeting all primary efficacy end points.
Notwithstanding the positive news, the rupee was trading in a narrow range "as rise in COVID-19 cases in Europe and the US offset positive sentiments surrounding the potential vaccine," Reliance Securities said in a research note.
Further, the US dollar rebounded this morning in Asian trade and could cap gains, the note added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.16 per cent to 92.46.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 11.80 points lower at 44,168.25, while the broader NSE Nifty rose 4.30 points to 12,942.55.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 3,071.93 crore on a net basis on Wednesday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, fell 0.52 per cent to USD 44.11 per barrel.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.