Equity indices in India reached lifetime high following global cues.
Equity bench indices in India closed on Monday at a new lifetime high following the positive global cues soon after US President Donald Trump signed into law a $2.3 trillion coronavirus relief and spending package.
The Bombay Stock Exchange S&P Sensex (BSE) jumped up 380 points or 0.81% higher at 47,354. Meanwhile, at the national exchange, the Nifty 50 increased by 124 points or 0.9% to 13,873. Most sectoral indices at National Stock Exchange were green: Nifty PSU (Public Sector Undertaking) bank advanced by 2.7%, metal by 2.5%, realty by 2.6%, and auto by 1%.
Asian shares all over went up when Trump signed the US stimulus package that he had earlier railed against. The rollouts for Covid-19 vaccines have also instilled hopes that economies will start to normalize next year.