Global markets have added $7 trillion in m-cap this month amid polling in the US. Meanwhile, India has added $177 billion (Rs 13 trillion) in just eight trading sessions
Samie Modak | Mumbai November 10, 2020 Last Updated at 01:29 IST
The latest surge in the market has come on the back of a favourable outcome of the US elections
The market capitalisation (m-cap) of both India and the world has hit a record high of $2.23 trillion and $94.5 trillion, respectively.
Global markets have added $7 trillion in m-cap this month amid polling in the US. Meanwhile, India has added $177 billion (Rs 13 trillion) in just eight trading sessions. India surpassed its previous high of $2.22 trillion made on January 15, show Bloomberg data.
The combined global m-cap had hit a high of $92.8 trillion on October 13. Since then, it 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 parts of Europe and the US.
The latest surge in the market has come on the back of a favourable outcome of the US elections.
Most believe President-elect Joe Biden will help reduce global political tensions and help spur growth.