Sensex Ends 737 Points Higher, Nifty Near 12,470 As Global Markets Cheer Biden's Win

The Indian market's benchmark indices closed higher on Monday amidst strong global cues after the US presidential election outcome and sustained foreign capital inflow into the Indian market.

BSE's Sense closed 1.68 percent higher at 42,597.43 and NSE's Nifty 50 was also up 1.68 percent to close at 12,469.20. All the sectors were trading in green led by Nifty Private Bank, Nifty IT, Nifty Pharma and Nifty Financial Services. Divi's Laboratories and ICICI Bank were the top gainers on Nifty 50.

During the day, both Sensex and Nifty 50 hit new all-time highs of 42,645.33 and 12,474.05, respectively.

Shares of Divi's Laboratories Ltd rose to hit a new record high of Rs 3,463.40 after analysts upgraded their investment recommendations and earnings estimates for the drugmaker. Meanwhile, ICICI Bank's shares rose 5 percent to Rs 464.

European stocks rallied as markets around the world made gains on Joe Biden's win as the next President of the United States. The pan-European Stoxx 600 climbed 1.5 percent in early trade, with travel and leisure stocks adding 2.9 percent to lead gains.

Stocks in Asia-Pacific also made large gains on Monday and US stocks looked poised to continue their big post-election rally with futures gaining in early-morning trade. Futures on the Dow Jones Industrial Average rose 333 points, indicating a 318 points gain on opening on Monday. S&P 500 futures and Nasdaq 100 futures were also trading in positive territory.