Inventory market at present: India’s benchmark indices, the Sensex and Nifty 50, jumped over 1 per cent every, extending positive aspects into the second consecutive session on Wednesday, November 6, as information of former President and Republican candidate Donald Trump taking a decisive lead within the 2024 US election drove market sentiment larger.
The 30-share pack Sensex and the Nifty 50 jumped over 1 per cent every to 80,363.99 and 24,480.15, respectively.
The general market capitalisation of BSE-listed companies rose to almost ₹452 lakh crore from practically ₹445 lakh crore within the earlier session, making buyers richer by about ₹7 lakh crore in a single session.
Sectoral indices at present
All sectoral indices rose in commerce, led by the Nifty IT index, which surged 4 per cent, adopted by Nifty Realty, which jumped 3 per cent.
Oil and Gasoline, Shopper Durables rose 2 per cent whereas Auto, Media, Steel, Pharma and PSU Financial institution rose over a per cent every.
The Trump issue
Early election developments point out a beneficial consequence for Republican candidate Donald Trump within the 2024 US presidential race. Trump is at present main with 266 electoral votes and holds a robust place in over 27 states, in accordance with AFP, citing US media stories.
Specialists observe {that a} Trump-led Republican authorities may tremendously affect commerce, possible rising tariffs and adopting a extra protectionist stance on worldwide commerce.
“One of many key focal factors of Trump’s presidency was decreasing the US commerce deficit, a coverage that closely relied on rising import tariffs. Whereas these measures may assist shrink the commerce deficit, they threat rising inflation by making imported items costlier. This, in flip, may delay rate of interest cuts by the US Federal Reserve, which is already grappling with persistent inflationary pressures,” stated Nitin Aggarwal, Director of Funding Analysis and Advisory at Consumer Associates.
Brokerage agency JM Monetary believes Trump’s insurance policies may result in larger rates of interest, a robust US greenback and a slowdown in international development.
Nonetheless, a number of consultants additionally underscore that the result of the US presidential election may set off short-term volatility and the market will calm down quickly and regulate to the result.
“We do not anticipate a lot of an affect on Indian markets as a result of US elections other than the knee-jerk reactions markets may open to after the outcomes are introduced,” stated Apurva Sheth, Head of Market Views & Analysis, SAMCO Securities.
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