Indian markets finished at a record high on Monday as Democrat Joe Biden's victory in the U.S. election led dollar to slip, boosting hopes for more fund inflows into emerging markets, with domestic IT stocks gaining on a report stating that the President-elect planned to ease policy on work visas.
The NSE Nifty 50 index was up 1.61% and the S&P BSE Sensex index closed 1.68% higher. Both the indexes climbed to all-time highs during the session, scaling 42,645.33 and 12,474.05, respectively.
As investors heralded Joe Biden's election as U.S. president, raising expectations that a calmer White House could boost global trade and foster easy monetary policy, the dollar hit a 10-week low on Monday.
Infosys, IT sector heavyweight, gained nearly 3%. Among the sessions's top gainers, the sector's main sub-index- banking stocks rose about 2.7% and closed higher for a sixth consecutive session.
13 Apr 2021 10:30 AM
Gold was unchanged today as investors kept to the side lines ahead of U.S. inflation data that is projected to shed more light on recovery in the world's largest economy.
13 Apr 2021 07:40 AM
Find out why is the Dollar trading near its 3-week low?
12 Apr 2021 06:35 PM
U.S. stock futures slipped today, signaling a muted opening for major indexes that stand at record highs ahead of a busy week of corporate earnings and economic data.
12 Apr 2021 04:31 PM
Indian equities fell the most in over a month as a rapid surging second wave of the coronavirus across the country acted as the key deterrent to market sentiment.
12 Apr 2021 04:21 PM
The Indian rupee dropped for the sixth consecutive session against the dollar, as a surge in coronavirus cases intensified fears of a delay in economic recovery.
12 Apr 2021 02:54 PM
Pound bounced back from 2 month lows and traded around 1.3750 amid timid US Treasury yields capping Dollar’s gains.