Asian and US stocks witnessed an upward trend after Democrats took control of the Senate following key elections, paving the way for President-elect Joe Biden to implement his agenda.

Dow Jones futures rose along with S&P 500 futures and NASDAQ futures, as Congress returned to Capitol Hill to finish the Electoral College certification of Joe Biden’s presidential victory.

The Dow Jones, S&P 500 index and small-cap Russell 2000 rallied to record highs. Dow Jones gained 437.80 points, or 1.4 percent, to 30,829.40.

NASDAQ composite rebounded for modest gains. Sensex gains 300 points, whereas SBI rises 2% each. Nifty futures on the Singapore Exchange-traded 72 points, or 0.51 percent, higher at 14,252.50.

According to the media reports, the investors in Asia and US remained confident that violence in Washington would not disrupt a legitimate transition to a new presidency or derail political support for a US economic recovery.