The continuous decline in the stock market over the last few days finally got a respite on Tuesday and Sensex-Nifty closed with strong gains. But today, on the third trading day of the week, the impact of the US presidential election results can be seen on the stock market. In fact, the effect of any move in the United States is also visible in the Indian market, be it elections or decisions by the US Federal Reserve. In such a situation, the election results can also affect the market. Let us tell you that given the results of this election between Kamala Harris and Donald Trump, there has been an increase in the Asian markets, including the United States.
Market momentum can continue!
The last trading day on Tuesday saw a sudden and stormy rise in the stock market and there are signs that this momentum will continue even today. In fact, there has been a boom in the global market. This rise in Asian markets, including the United States, occurred before the results of the US presidential election and as the results become known, its impact can also be seen in the Indian stock market. As of this writing, counting trends in the US presidential election were changing rapidly. In the Electoral College trends, Donald Trump was leading with 178 seats, while in the trends, Kamala Harris was stuck at a nervous 99. The elephant, symbol of Donald Trump’s Republican Party, is now running fast.
There was a boom in the global market.
The effect of fluctuations in the global market is also visible in the Indian markets and positive signs were seen on Wednesday. American markets remained bullish overnight, while Asian markets also traded with gains. Speaking of the US stock markets, the Dow Jones closed at 42,221.88 with a gain of 427.28 points or 1.02 percent, while the S&P500 also closed at 5,782.76 with a gain of 1.23 percent. As for the Nasdaq, it also gained 1.43 percent.
Turning to Asian markets, Japan’s Nikkei index showed an increase of 86,654 points or 2.25 percent. Thus, South Korea’s Kospi rose 0.90 percent. If we talk about Gift Nifty, it was seen at the level of 24,255.
You can see a great impact in these actions.
The impact of the US election results can be seen in India, especially in the stocks of energy, transportation, IT and pharmaceutical companies. Let us tell you that on Tuesday, the last day of trading, the Indian stock market had started weak but in the last few hours of trading this drop suddenly turned into a rise and both the indices closed with strong gains.
The 30-share Bombay Stock Exchange Sensex opened at the level of 78,542 and during trading rose to the level of 79,523.13. However, when the market closed, it closed at the 79,476.63 level with a strong gain of 694.39 points. Apart from this, after opening at the level of 23,916.50, the National Stock Exchange Nifty finally closed at the level of 24,213.30 with a rise of 217.95 points. The rise in the market on Wednesday was due to momentum in banking and steel stocks and during this period, shares of HDFC Bank, SBI, ICICI Bank, Kotak Bank, IndusInd Bank as well as TATA Steel, JSW Steel had gained a lot.
(Note: Before making any kind of investment in the stock market, definitely consult your market experts.)
