Business

Indian Stock Market Hails Trump Win, Sensex Surges 901 Points

Indian benchmark indices Sensex and Nifty rallied on Wednesday, gaining more than 1% after Donald Trump’s decisive victory in the US presidential election. The Sensex closed at 80,378.13, up by 901.50 points or 1.13%, while Nifty ended at 24,484, gaining 270.75 points or 1.12%.

Nifty Bank gained 110.15 points or 0.21%, closing at 52,317.40, while the Nifty Midcap 100 index closed 2.21% higher at 57,355.80. The Nifty Smallcap 100 index also rose 2.18% to close at 18,906.10.

IT Sector Leads Broad-Based Buying

Heavy buying was observed across sectors, with the IT sector leading gains. Nifty’s auto, PSU bank, financial services, pharma, FMCG, metal, realty, media, and energy sectors all traded in the green. Major Sensex gainers included TCS, HCL Tech, Infosys, Tech Mahindra, Adani Ports, L&T, and Maruti, while Titan, IndusInd Bank, Hindustan Unilever, Axis Bank, and HDFC Bank saw losses.

On the BSE, market breadth was positive with 3,013 stocks in the green, 961 in the red, and 89 unchanged.

Positive Global Market Sentiment Boosts Indian Indices

Experts attributed the rally to reduced political uncertainty following Trump’s win, with global markets staging a relief rally. Expectations of tax cuts and increased U.S. government spending drove strong “risk-on” sentiment. Indian IT stocks gained in anticipation of a rise in U.S. IT spending, adding momentum to the domestic market’s gains.

Also Read: Musk A ‘Super Genius’, Says Trump As Tech Billionaire Lauds ‘Mandate For Change’

Ajaypal Choudhary

Recent Posts

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

9 hours ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

9 hours ago

Chhattisgarh: Seven Maoists Killed In Indravati National Park Operation

Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…

10 hours ago

Carney Invites Modi To G7 Summit, Highlights India’s Global Supply Chain Role

Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…

10 hours ago

RBI Frontloads Rate Cuts To Boost Growth Amid Low Inflation: Crisil

The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…

11 hours ago

PM Modi Urges Global Action On Coastal Resilience At Nice Summit

PM Narendra Modi on Saturday called for urgent global action to build infrastructure that can…

11 hours ago