India, global m-cap hit record new highs amid polling in the US

While global markets have added $7 trillion in this month, India has added $177 billion (Rs 13 trillion) in just eight trading sessions

The market capitalisation of India, along with that of the globe, has hit a historical high of $2.23 trillion and $94.5 trillion, respectively. 

Global markets have added $7 trillion in market capitalisation this month amid polling in the US, the world’s biggest economy. 

Meanwhile, India has added $177 billion (Rs 13 trillion) in market cap in just eight trading sessions. India surpassed its previous high of $2.22 trillion made on January 15, Bloomberg data shows. 

The combined global market cap had hit a high of $92.8 trillion on October 13. From there the market cap had slipped by $5.4 trillion to $87.42 trillion in end-October amid uncertainty over the stimulus package in the US and reinforcement of lockdowns in certain part of Europe and US. 

The latest surge in the market underpinned by favorable outcome from the US elections.  Many believe President-elect Joe Biden will help reduce global political tension and help spur growth.