The Indian benchmark indices on Wednesday welcomed Donald Trump's convincing victory in the US presidential elections as both Sensex and Nifty gained more than 1 per cent amid heavy buying in the IT sector.
The Sensex closed at 80,378.13, up 901.50 points or 1.13 per cent.
The other way around, Nifty ended with a gain of 270.75 points or 1.12 per cent at 24,484. Nifty Bank increased 110.15 points or 0.21 per cent to end at 52,317.40. Nifty Midcap 100 ended trading with 57,355.80 after gaining 1240.35 points or 2.21 per cent. Nifty Smallcap 100 gained 402.65 points or 2.18 per cent to end trading at 18,906.10.
Auto, IT, PSU bank, financial service, pharma, FMCG, metal, realty, media, and energy saw a Nifty saw buying in.
Trading in all sectors was in green at the end.
TCS, HCL Tech, Infosys, Tech Mahindra, Adani Ports, L&T, and Maruti led gainers.
Titan, IndusInd Bank, Hindustan Unilever, Axis Bank, and HDFC Bank were the worst performers.
Market trend was still in the positive. At BSE, 3,013 stocks were up, 961 were down, and no change was reported in 89 shares.
According to market experts, relief rally had engulfed the global markets with US election results reducing political uncertainty as Trump got a very strong mandate.
This has led to strong risk-on sentiments, driven by expectations of tax cuts and increased government spending. The domestic buying was broad-based, with IT leading the charge in anticipation of a rebound in IT spending in the US, they said.
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