Today’s Market News :
Gift Nifty 24,471 (-101)
Dow Jones 43,729 (+1508)
Nasdaq 18,983 (+544)
India VIX 14.86(-7.78%)
* The election of Donald Trump as the next US President has led to a surge in Indian equities, with benchmark indices gaining over 1%, particularly benefiting the IT sector.
* The Nifty IT Index rose by 4%, driven by significant gains in major companies like Tata Consultancy Services (TCS) and Infosys, as investors anticipate favorable policies for the sector.
* Despite foreign investors pulling out substantial amounts from Indian stocks, domestic institutions continued to buy, indicating a mixed sentiment in the market as it adjusts to the new geopolitical landscape.
* Indian equity indices, including the Nifty 50 and Sensex, saw a significant surge, marking their largest gain in over six weeks following Donald Trump’s election victory.
* The Nifty 50 rose by 1.12%, while the Sensex increased by 1.13%, indicating a potential short-term boost in the market.
* Analysts suggest this movement could signal a trend reversal, although it remains to be seen if this momentum will be sustained.
* The Sensex surged over 1,000 points following Donald Trump’s projected win, with Indian IT stocks emerging as major beneficiaries due to a stronger dollar and anticipated tax cuts.
* Analysts predict that India’s economy could benefit from lower oil prices and shifts in supply chains, although trade tensions may pose risks to exports.
* While the initial market reaction is positive, experts caution that the sustainability of this rally will depend on valuations and earnings momentum in the coming months.
* The second-quarter earnings season is underway with 166 companies, including Tata Steel, Apollo Hospitals, M&M, and Trent, set to announce their results today.
* Mahindra and Mahindra (M&M) is expected to report a 10-13% year-on-year revenue growth, driven by its tractor and automotive segments, although profits may remain flat.
* Trent is anticipated to show significant revenue growth of 46-56% year-on-year, attributed to new store openings, with a projected bottom line increase of 59-74%.
