World markets soar as vaccines fuel hopes

Among the 10 major world equity indices, India’s BSE Sensex has performed the best and has seen a 27.6% rise since the start of November, which Pfizer and Moderna started releasing data of their vaccines and their effectiveness.

Shares across the world have soared to record highs in recent weeks, particularly through Asia led by countries such as India, as progress in vaccine development prompted bets on normalisation in the global economy.

People look at a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India. (REUTERS)

Among the 10 major world equity indices, India’s BSE Sensex has performed the best and has seen a 27.6% rise since the start of November, which Pfizer and Moderna started releasing data of their vaccines and their effectiveness.

While these vaccine announcement and subsequent economic relief package announcement in United States has helped in the current market rally, data shows that these 10 indices had started their upward movement since the first week of November (after the US elections).