Indian shares touch record highs as Joe Biden wins US election

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

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.

Markets opened in green on Monday. (PTI File Photo)

The NSE Nifty 50 index was up 1.45% by 0357 GMT and the S&P BSE Sensex index rose 1.4%. 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% after the company reported a higher profit in the quarter to September on Saturday and boosted the Nifty pharma index 1.6%.

Meanwhile, MSCI’s broadest index of Asia Pacific shares outside of Japan jumped 1.3%, 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.