Nifty IT zooms 3.5%; Donald Trump impact? Which stocks are rallying?

Nifty IT zooms: The domestic stock markets are trading in the green on Wednesday while the United States is deciding the next president of the country. As Republican Party candidate Donald Trump takes a strong lead over Democrat Kamala Harris, the Indian bourses have reacted positively. The BSE’s 30-share Sensitive Index (Sensex) surged over 700 points or 0.88 per cent, and the NSE ’s Nifty 50 has crossed the 24,400 mark with over 200 pts or 0.85 per cent uptick. 

Amid this, NSE’s sectoral index Nifty IT, representing top companies from the information & technology (IT) sector, has recorded the biggest surge among any sectoral index. Nifty IT has zoomed past 3.5 per cent with Persistent Systems, LTI MindTree, CoForge, and HCL Tech leading the charge Persistent Systems have gained more than 5.21 per cent whereas industry giants such as HCL and TCS have recorded a 3.8 per cent uptick. 

Indian markets are positive on Trump’s return to power due to his strong stance against China and plan to implement higher trade tariffs on Chinese imports. According to experts, Trump’s anti-China policy can be advantageous for Indian businesses and exports as the importers will shift likely to India. 

US Presidential Elections: Stocks rallying today

The top stocks which are driving the markets today are as follows: 

• TCS
• Infosys
• HCL Tech
• Tech Mahindra
• Adani Ports 
• Maruti Suzuki  
• Bharti Airtel
• Sun Pharma