Indian Stock markets continued the bullish run for the fifth consecutive day, and analysts believe that a setback for US President Donald Trump in the midterm election could act as fuel for the current firm sentiment. Sensex, the 30-share BSE index, rose 383.5 points to close at 77,301.40. Nifty50 settled at 23,960.60, up 0.63 per cent or149.75 points.
"Developments on the geopolitical front also helped underpin sentiment. US President Donald Trump played down the prospect of further military strikes on Iran following the setback in the midterm elections, offering some reassurance to markets concerned about an escalation in regional tensions," said Ponmudi R, CEO of Enrich Money.
Vinod Nair, Head of Research, Geojit Investments Limited, noted that the U.S. midterm outcome improved global sentiment, raising expectations of a more measured approach to trade and tariff policies and potentially supporting FII flows into emerging markets.
American voters gave a consolidated setback to President Trump’s Republican Party, giving the opposition Democratic Party control of the US Congress. The development will have consequences far beyond America.
What Fueled the Rally In Stock Market Today
- - A massive buying sentiment in heavyweight stocks in sectors such as FMCG and auto
- - Continued foreign fund inflows; FIIs bought equities worth Rs 6,836.81 crore on Tuesday.
- - Ease in crude oil prices; Brent crude fell to a level of $102-103 per barrel.
Top Losers and gainers
Category | Firms |
|---|---|
Winners | Bharat Electronics, Titan, InterGlobe Aviation, Bajaj Finance, ITC, Adani Ports |
Laggards | Tata Consultancy Services, HCL Tech, Infosys, Eternal |