Both the Sensex and the Nifty indices have gained for four straight sessions now, advancing 1,726 points or 4.35%, and 477 points or 4.1%, respectively.
The surge in global markets on Thursday lifted Indian equities as well, with the benchmark Sensex soaring 1.8% and erasing all its losses for the year, as the outcome of the presidential election.
The return of the benchmark index to positive territory also came on the back of better-than-expected Goods and Services Tax (GST) numbers and other macroeconomic indicators, and a revival in quarterly earnings, and a surge in auto sales in the festive season.
Both the Sensex and the Nifty indices have gained for four straight sessions now, advancing 1,726 points or 4.35%, and 477 points or 4.1%, respectively. So far this year, the Sensex has gained 0.21% while the Nifty is still down 0.40%.
At closing, the Sensex settled at 41,340.16 while the Nifty stood at 12,120.30, closing at a level last seen on 19 February. Both indices closed 1.78% higher each, their biggest gains since 25 September.
The Sensex has recouped year-to-date losses, it is yet to regain its all-time high of 42,273.87 points this year.
According to brokerage firm Nomura Research, a Biden win without full Senate support also means less risk of regulation or higher corporate or personal taxes.