Sensex surged 2%, or 1,621 points, to an intraday high of 78,922.44, while the Nifty 50 advanced 431 points, or 1.8%, to touch 24,391.95
Sensex jumps over 1600 pts, Nifty above 24,000 after Trumps defeat: The Indian stock market has witnessed a strong rise today after the defeat of president Donald Trump in the US mid-term elections. It’s almost like Diwali on Dalal Street. As soon as the stock market opened, Sensex saw a jump of 1400 points. At the same time, Nifty 50 is also witnessed a strong growth.
The Sensex surged 2%, or 1,621 points, to an intraday high of 78,922.44, while the Nifty 50 advanced 431 points, or 1.8%, to touch 24,391.95. The sharp drop in crude oil prices is also being said to be a major reason behind this.
The Nifty Private Bank index rose more than 2 percent, while the Nifty Realty index rose 1.86 percent. All sector indices were trading in the green. The Nifty Cement, Auto, IT, Oil & Gas and Public Sector Bank indices rose up to 1.82 percent. FMCG, consumer durables, metals, media and chemicals sectors also rose by 1 to 1.5 percent.
On Thursday, Brent crude futures fell by 1.03% to $93.65 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude dropped 1.29% to $86.98 per barrel. Both benchmarks had already fallen more than 8% in the previous trading session, reaching their lowest levels since August 31.
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The recent US midterm election results have increased hopes of reduced tensions between Washington and Tehran. Investors believe political pressure on President Donald Trump could encourage diplomatic talks instead of military action against Iran.
