Fireworks on D-Street: Sensex rises 704 points, Nifty settles at 12,461

But about half the Nifty50 stocks still trading below January levels

India’s benchmark indices logged their new all-time highs on Monday amid continued optimism around the US election results. The Sensex closed at 42,597, up 704 points, or 1.7 per cent, while the Nifty rose 197 points, or 1.6 per cent, to end at 12,461, extending the 5 per cent-plus gains posted last week.

It took both the indices 206 trading sessions to surpass their previous highs, made on January 14, a surprise recovery considering the economic damage caused by the Covid-19 pandemic and the free fall seen in March.

US stocks, too, jumped to fresh records in early trade after Pfizer Inc