Stock market today: India’s benchmark indices, the Sensex and Nifty 50, extended their morning gains on Wednesday, November 6, as news of former President and Republican candidate Donald Trump taking a decisive lead in the 2024 US election drove market sentiment higher.
The 30-share pack Sensex and the Nifty 50 jumped 1 per cent each to 80,267.75 and 24,443.95, respectively.
The overall market capitalisation of BSE-listed firms rose to nearly ₹451 lakh crore from nearly ₹445 lakh crore in the previous session, making investors richer by about ₹6 lakh crore in a single session.
Sectoral indices today
All sectoral indices rose in trade, led by the Nifty IT index, which surged 4 per cent, followed by Nifty Realty, which jumped 3 per cent.
Oil and Gas, Consumer Durables rose 2 per cent while Auto, Media, Metal, Pharma and PSU Bank rose over a per cent each.
The Trump factor
Early election trends indicate a favourable outcome for Republican candidate Donald Trump in the 2024 US presidential race. Trump is currently leading with 266 electoral votes and holds a strong position in over 27 states, according to AFP, citing US media reports.
Experts observe that a Trump-led Republican government could greatly impact trade, likely increasing tariffs and adopting a more protectionist stance on international trade.
(More to come)
