Trump win excites Indian stock markets; Nifty and Sensex up

Donald Trump's presidential victory has excited the Indian stock markets. The markets rejoiced with Nifty and Sensex gaining around 1%. 

The Nifty concluded the trading session at 24,213.3, reflecting an increase of 1.12%. During the day, the index reached a peak of 24,537.6 and fell to a low of 24,204.05. The Sensex traded within the range of 80,569.73 and 79,459.12, ultimately closing 1.13% higher at 79,476.63, which is 901.5 points above the opening price.

The Midcap index outperformed the Nifty 50, with the Nifty Midcap 50 closing 2.35% higher. Small-cap stocks also showed robust performance, as the Nifty Small Cap 100 ended at 18,503.45, gaining 402.65 points or 2.18%.

Postive for near-term

Deepak Jasani of HDFC Securities said that the outcome of the elections is positive for the market in the near term. Apart from China, most global markets may see positive traction with some volatility in Europe, he said.

On the technical front, Nifty saw a strong recovery from the 23,800 level, with 24,650 acting as an immediate hurdle. “Above 24,650, the 25,000-25,200 zone is a critical resistance area. Immediate support is at 24,040, with further support at 23,800,” said Pravesh Gour of Swastika Investmart Ltd.

Bank Nifty is outperforming, with an immediate resistance zone at 52,300-52,600, said Gour. Above 52,600, the next target levels are 53,300, followed by 54,000-54,500, and immediate support lies at 51,800 and 51,600, with strong support at 51,000, he added.

Nifty's top gainers and losers 

The leading gainers in the Nifty index included Bharat Electronics (up 5.41%), Adani Enterprises (up 4.48%), Tata Consultancy Services (up 4.24%), Infosys (up 3.96%), and Tech Mahindra (up 3.73%). The top losers were SBI Life Insurance Company (down 1.79%), Titan Company (down 1.65%), HDFC Life Insurance Company (down 1.19%), Indusind Bank (down 1.14%), and Cipla (down 0.45%).

The Bank Nifty concluded the day at 52,207.25, having reached an intraday high of 52,493.95 and a low of 52,185.4.

Below is the list of stocks that emerged as the top gainers and losers* during the trading session on November 6:

Sensex:

Top gainers: Tata Consultancy Services (up 4.21%), Infosys (up 4.02%), Tech Mahindra (up 3.85%), Wipro (up 3.75%), HCL Technologies (up 3.71%)

Top losers: Titan Company (down 1.72%), Indusind Bank (down 1.14%), Hindustan Unilever (down 0.54%), Axis Bank (down 0.35%), HDFC Bank (down 0.22%)

Nifty:

Top gainers: Bharat Electronics (up 5.41%), Adani Enterprises (up 4.48%), Tata Consultancy Services (up 4.24%), Infosys (up 3.96%), Tech Mahindra (up 3.73%)

Top losers: SBI Life Insurance Company (down 1.79%), Titan Company (down 1.65%), HDFC Life Insurance Company (down 1.19%), Indusind Bank (down 1.14%), Cipla (down 0.45%)

Nifty MidCap 50:

Top gainers: Dixon Technologies (India), Supreme Industries, KPIT Technologies, Oracle Financial Services Software, Persistent Systems

Top losers: Sundaram Finance, Muthoot Finance, Lupin, Au Small Finance Bank, Colgate Palmolive India

Nifty Small Cap 100:

Top gainers: Tejas Networks, Piramal Pharma, Intellect Design Arena, Castrol India, Sonata Software

Top losers: Great Eastern Shipping Company, Five Star Business Finance, Manappuram Finance, Multi Commodity Exchange of India, Raymond.

(By arrangement with livemint.com)