The Indian stock market ended on a strong note, with both the BSE Sensex and NSE Nifty50 gaining over 1 percent, extending their positive streak for the second consecutive session following Donald Trump’s projected victory in the US presidential election.
The BSE Sensex closed 901.50 points higher, or a 1.13 percent increase, to settle at 80,378.13. Similarly, the NSE Nifty50 climbed by 270.74 points, or 1.12 percent, ending the day at 24,484.05.
Among the 50 stocks on the Nifty50 index, 41 ended in the green, with major contributors to the rally including Bharat Electronics, Adani Enterprises, Tata Consultancy Services (TCS), HCL Tech, and Wipro. These stocks saw gains of up to 5.33 percent. On the downside, a few stocks ended lower, with SBI Life, Titan, HDFC Life, IndusInd Bank, and Trent being among the notable decliners.
Broader indices also saw significant gains, with the Nifty Midcap 100 and Nifty Smallcap 100 both rising by more than 2 percent each.
Across the sectoral indices, all sectors closed in positive territory. The Nifty IT index led the charge, advancing by 3.99 percent, followed by strong gains in the Oil Marketing Companies (OMCs), Consumer Durables, and Realty sectors, each rising by over 2 percent.
The upbeat sentiment across global and domestic markets following Trump’s election victory appears to have boosted investor confidence, especially in the IT sector, which was the standout performer.
