Indian stock markets experienced a strong rally on Wednesday, reacting positively to the projected victory of Republican candidate and former US president Donald Trump in the ongoing US presidential elections. The benchmark indices, Nifty and BSE Sensex, closed in the green as investor sentiment was buoyed by the political developments from across the globe.
The Nifty index finished at 24,484.05, marking a rise of 270.75 points, or 1.12%. The BSE Sensex followed suit, climbing 901.50 points to close at 80,378.13, up 1.13%. During the trading session, the BSE Sensex witnessed an impressive surge, briefly rising by over 1000 points, while Nifty reclaimed the 24,500 mark.
Among the top-performing stocks on the National Stock Exchange (NSE), Bharat Electronics Limited, Adani Enterprises, TCS, Wipro, and Infosys saw notable gains, further contributing to the market’s positive momentum. On the other hand, stocks such as SBI Life Insurance, Titan, HDFC Life, IndusInd Bank, and Trent Limited faced losses during the session.
Sector-wise, the rally was widespread as all sectoral indices on the NSE ended in the green. The Nifty IT index stood out, posting a substantial increase of 3.99%, while the Consumer Durables and Realty indices also saw gains of more than two percent each. Broader indices also registered impressive growth, with the Nifty Midcap 100 and Nifty Smallcap 100 both rising by over two percent.
This positive market movement reflects the optimism among investors following the early signs of Trump’s projected victory in the US elections, as well as a favorable global economic outlook. The market’s bullish trend is expected to continue as the political climate evolves, with investors keeping a close watch on the outcomes of the US elections.