The Indian inventory market ended over one per cent higher on Tuesday, on the back of beneficial global cues, ahead of the USA presidential ballot outcome. Analysts say while predicting the election outcome is harder-than-ever, a victory for Democratic candidate Joe Biden will be good for emerging markets (EM), including India. READ MORE
A number of the headline indices, the S&P BSE Sensex rallied 504 points, or 1.2 per cent, to 40,261 levels and the Nifty50 index reclaimed the 11,800-mark to end at 11,813.50, up 144 points, or 1.24 per cent. India VIX dropped almost 4 per cent to 24.2 levels.
Sectorally, barring Nifty Realty and Nifty Media, all other indices ended in the green. Nifty Bank jumped over 3 per cent or 790 points to 25,683 levels while Nifty Metal rose over 2 per cent to 2,391 levels.
In the broader market, the S&P BSE MidCap index gained 0.42 per cent to settle at 15,021 levels while the S&P BSE SmallCap index ended at 14,834, up 52 points, or 0.35 per cent.
European inventory markets rose in early trading on Tuesday as investors bet on a lucid win for Joe Biden as the US votes in its most polarised presidential election in living reminiscence.
In Asia, South Korea’s main index advanced 1.7 per cent and Hong Kong’s index sprinted 2.2 per cent higher.
The MSCI China index hit a 23-year high after Chinese factory activity expanded the fastest in a decade. Japanese markets were closed for a holiday.
In commodities, oil prices extended their rally but concerns over surging coronavirus cases all over the world capped further gains.
(With inputs from Reuters)