Sensex, Nifty hit fresh record high ahead of Bihar Elections Result 2020

New Delhi: Markets hit fresh record high for the second day on Tuesday ahead of Bihar Elections Result 2020 and also mirroring a rally in global markets as investors wagered on improved trade relations under a Joe Biden presidency in the US.

The BSE Sensex rose 110.14 points or or 0.26 percent to 42,707.57 in early trade while the NSE Nifty jumped 26.05 points or 0.21 percent to 12,487.10.

The counting of votes for 243-seats in Bihar legislative assembly election 2020 which was held in three phases will be declared today (November 10, 2020). The result declaration this time will be different due to the coronavirus pandemic which is likely to cause some delay in the release of the final result.

Sensex had opened 239 points higher at 42,836.30 while Nifty had opened 65 points higher at 12,526.40.

Rising for the sixth straight session, the BSE Sensex vaulted 704.37 points or 1.68 per cent to close at its lifetime peak of 42,597.43. Intra-day, it touched its all-time high level of 42,645.33. The previous closing record for the Sensex was 41,952.63, hit on January 14, 2020.

Similarly, the broader NSE Nifty climbed 197.50 points or 1.61 per cent to finish at its all-time high of 12,461.05. It hit its record level of 12,474.05 during the day.

Japan`s Nikkei 225 rose 1.1% after reaching a 29-year high in early trade and Australia`s S&P/ASX 200 rose 1.6%. Hong Kong`s Hang Seng index futures was up 1% in early trade but there was marginal weakness in China as the CSI300 Index slipped by 0.24%. MSCI`s broadest index of Asia-Pacific shares outside Japan was 0.12% higher, a Reuters report said.