Sensex, Nifty remain firm on Trump win optimism

Bullish momentum took over Dalal Street on Wednesday as markets priced in a potential Trump victory, lifting both Nifty and Sensex by over a percent. Broader indices followed suit, with gains across sectors as investors anticipated a Trump re-election. However, investors are also hoping for another rate cut by the Federal Reserve in its meeting scheduled on November 7, according to information.
At close, the Sensex was up 901.50 points or 1.13 percent at 80,378.13, and the Nifty was up 270.75 points or 1.12 percent at 24,484.05.
Bharat Electronics, Adani Enterprises, TCS, Tech Mahindra and Infosys were the top gainers on the Nifty, while losers included SBI Life Insurance, Titan Company, IndusInd Bank, HDFC Life and HUL.On the sectoral front all the sectoral indices ended in the green with IT index rose 4 percent, oil & gas, power, capital goods, realty up 2 percent each.BSE Midcap index up more than 2 percent and Smallcap index up nearly 2 percent.
Rupee Close:
On 06 Nov'24,the Indian rupee fell to a record low on Wednesday, affected by a sharp rise in the dollar and U.S. bond yields as Republican Donald Trump claimed victory in the U.S. presidential election.The rupee closed at 84.28 against the US dollar, down 0.2% from its previous close, experiencing its sharpest one-day fall in more than four months, according to estimates.
However, intervention by the Reserve Bank of India helped the currency limit losses compared to its regional peers, which fell as much as 1.8%.Moreover, the U.S. Fed is expected to announce a rate cut in a meeting scheduled later this week, with further easing of up to 100 basis points projected for 2025. according to information.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the global markets experienced a relief rally following the US election results, reducing political uncertainty with Trump securing a 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 rebound in IT spending in the US. BFSI spending in the US has improved as per the IT Q2 result which is positive for Indian players.
Market experts have recommended three buy or sell stocks- Hindustan Aeronautics, Reliance Industries, and Vedanta.

(Business Correspondent)