US Presidential election: What's in store for the Indian stock markets?

The much-awaited election day kicked off in the United States with the first ballots cast in Dixville Notch and Millsfield, two small towns in New Hampshire. The midnight vote began today with voters choosing their preferred candidates for US president and New Hampshire governor, as well as federal and state legislative seats. US President Donald Trump has thanked his supporters, while Democratic nominee Joe Biden said that he will work harder for those who do not back him in a tweet early Tuesday morning. 

So, the Indian stock market ended over one per cent higher on Tuesday on the back of favourable global cues. The benchmark S&P BSE Sensex reclaimed the crucial 40,000 level, to end at 40,261, up 504 points and the Nifty50 index closed at 11,813, up 144 points.Global financial markets remained on the edge as the race for US presidential poll enters the final lap.European stock markets rose in early trading on Tuesday as investors bet on a clear win for Joe Biden. In Asia, South Korea’s main index advanced 1.7 per cent and Hong Kong’s index sprinted 2.2 per cent higher.