Sensex, Nifty Rally On Trump's Victory; IT Stocks Lead
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(RTTNews) - Indian shares posted strong gains on Wednesday, with firm global cues boosting sentiment after U.S. Republican Donald Trump claimed victory in the 2024 presidential contest.
Trump is on course to return to power in the United States winning 266 electoral votes.
He is leading in key battleground states, and just four seats short of majority, while his Democratic rival Kamala Harris has won only 219 electoral votes.
Indian Prime Minister Narendra Modi extended his congratulations to Trump on his election victory and expressed his eagerness to renew collaboration between India and the U.S., aiming to strengthen their partnership.
The benchmark S&P/BSE Sensex surged 901.50 points, or 1.13 percent, to 80,378.13 while the NSE Nifty index settled up by 270.75 points, or 1.12 percent, at 24,484.05.
IT stocks topped the gainers list, with HCL Technologies, Wipro and TCS all climbing around 4 percent.
Bharat Electronics jumped 5.3 percent and Adani Enterprises advanced 4.5 percent.
Financials succumbed to selling pressure, with IndusInd Bank, HDFC Life and SBI Life falling 1-2 percent.
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