Nifty, Sensex touch record highs as Biden wins US election

Filed on November 9, 2020 | Last updated on November 9, 2020 at 07.36 am

Indian shares hit record highs on Monday as Joe Biden’s win in the US presidential election lifted broader Asian shares and aided domestic sentiment, while drugmaker Divi’s Labs boosted pharma stocks after it reported a higher quarterly profit.

The NSE Nifty index 50 was up 1.45 per cent by 0357 GMT and the S&P BSE Sensex index rose 1.4 per cent. Both the indexes marked all-time highs when they scaled 42,474.97 and 12,430.9, respectively.

Drugmaker Divi's Labs rose as much as 6.11 per cent after the company reported a higher profit in the quarter to September on Saturday and boosted the Nifty pharma 1.6 per cent.

Meanwhile, MSCI's broadest index of Asia Pacific shares outside of Japan jumped 1.3 per cent, the highest since January 2018, after Democrat Joe Biden's election to the White House raised expectations of fewer regulatory changes and more monetary stimulus.

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