Sensex nears 49k on Biden confirmation, foreign fund buying

Although delayed, Joe Biden’s confirmation as the next US president on Thursday led to a global rally which also lifted sentiment on Dalal Street on Friday. As a result, the sensex soared 689 points to close at a new life high at 48,783 points, with Infosys, TCS and RIL leading the charge. In intra-day trade, the sensex touched a new all-time high at 48,854 points.