Indian stock market up 380 points after Trump signs stimulus into law

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The Sensex jumped by 380 points amidst relief at the end of an impasse.

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. 

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