The markets globally have scaled to record highs after the Street cherished the progress of vaccine development, and the COVID stimulus package announcement in the US.
The push has been particularly fueled by Asia, led by countries such as India, as the current events on the vaccine front followed by the government’s Budget announcements pinned hopes on normalisation in the economy.
Among the 10 major world equity indices, India’s BSE Sensex has performed the best and has seen a 27.6 per cent rise since November.
Globally, the vaccine efficacy data by Pfizer and Moderna also contributed towards the northward movement of the share indices, as reported by Hindustan Times.
Besides the vaccine related announcements, the 10 indices globally had started their upward movement after the US elections.
On Friday, both the benchmark domestic indices Nifty and Sensex were up 0.2 per cent at 14924 and 50732 respectively, after touching their lifetime highs during the day.