Joe Biden win, global cues: Factors behind market hitting new high today

The broader market, too, gained in the trade though it underperformed the frontline indices.

It was literally an early Diwali on Dalal Street on Monday as the stock market scaled an all-time peak in intra-day deals. The optimism was led by firm global cues after Democrat Joe Biden defeated Donald Trump in the US Presidential Elections 2020. The S&P BSE Sensex rallied as much as 752 points, or 1.79 per cent to hit a record high of 42,645.33 levels against Friday's close of 41,893.06. NSE's Nifty, too, hit a fresh record high of 12,474 levels in the intra-day session.

Sensex eventually settled at 42,597, up 704 points while Nifty ended at 12,461, up 197 points.