The Indian stock market on Wednesday reacted positively to the lead of former President Donald Trump in the US presidential election results. Earlier on Tuesday, the US markets also closed with gains. On Wednesday morning, the Sensex rose 666.48 (0.83%) points to 80,143.11 at 12:18 pm due to strength in IT stocks. On the other hand, the Nifty strengthened by 202.00 (0.83%) points to reach 24,415.30. Earlier on Wednesday, the Indian stock market started trading on the green mark. At 9:50 am, the BSE Sensex rose 543.14 (0.68%) points to 80,017.16. On the other hand, the Nifty rose 168.50 (0.70%) points to 24,381.80.
What is the market impact of the US election results?
Indian benchmark equity indices, Sensex and Nifty 50, opened higher on Wednesday, led by gains in financial and IT stocks amid US presidential election results coming in. Meanwhile, other Asian markets were trading lower, with the MSCI Asia ex-Japan index falling 0.4%, as initial US presidential election results showed the contest is still very close. Media reports suggest Trump has won eight states, while Harris secured three states and Washington, DC. The election is neck and neck, with the final outcome likely to depend on seven swing states.
