Domestic stock markets reacted positively positively on Wednesday after Donald Trump was elected the new US President after a close battle with Kamala Harris in the the US presidential elections. The Nifty closed at 24,484.05, up 270.75 points or 1.12%, while the BSE Sensex ended at 80,378.13, gaining 901.50 points or 1.13%. At one point during the day, the Sensex had risen by over 1,000 points, with Nifty surpassing the 24,500 mark.
On the National Stock Exchange (NSE), top gainers included Bharat Electronics, Adani Enterprises, TCS, Wipro, and Infosys. The biggest losers were SBI Life Insurance, Titan, HDFC Life, IndusInd Bank, and Trent Limited. All sectoral indices on the NSE finished in the green, with the Nifty Midcap 100 and Nifty Smallcap 100 both rising by over 2%. The Nifty IT sector led the gains, surging by 3.99%, followed by Consumer Durables and Realty indices, which gained more than 2%.
Global markets also reacted positively, with the S&P 500 futures hitting a record high as Trump’s projected victory gained traction. European shares opened higher, buoyed by the US stock futures rally following Trump's clear victory and the Republicans gaining control of at least one Congressional chamber. In Asia, Japan’s Nikkei 225 rose by 2.61%, while Chinese markets showed mixed results, with Hong Kong's Hang Seng dropping by 2.23%, due to Trump’s historically negative stance on China. Indian IT stocks surged following data showing an unexpected acceleration in US services sector activity in October.