Sensex and Nifty extended gains for the fifth straight session on Wednesday. The Sensex rose 383.55 points to close at 77,301.40, while the Nifty gained 149.75 points to end at 23,960.60. Rahul Singh said, "A shift in the US political landscape could have some positive implications for India."
Synopsis
Following the US midterm elections, Indian investors are buoyed by hopes of decreased global trade tensions. The Sensex surged by 383.55 points, closing at 77,301.40, while the Nifty increased by 149.75 points to end at 23,960.60, highlighting a significant rebound for the indices. Analysts believe reduced geopolitical risks could enhance India's economic prospects, despite a mixed performance in Asian markets regarding US investments in AI.
Mumbai: Investor sentiment stayed positive for the fifth straight session on Wednesday as hopes of easing global trade and geopolitical tensions after the US midterm elections, along with renewed foreign buying and lower crude oil prices, helped Indian equities extend gains
The Sensex rose 383.55 points, or 0.50%, to close at 77,301.40, while the Nifty gained 149.75 points, or 0.63%, to settle at 23,960.60.
The Sensex touched its 200-day moving average for the first time since February 23, while the Nifty ended just shy of the mark, after 171 trading sessions below the long-term trend indicator. Market participants are viewing the outcome of the US midterm elections, in which Democrats regained control of Congress, as a potential easing of global trade tensions and geopolitical risks. These factors have weighed on risk appetite and contributed to the underperformance of Indian equities.
For India, the shift in the political balance in the US could influence trade negotiations, commodity prices and foreign capital flows. Fund managers said any moderation in global trade tensions and geopolitical uncertainty would benefit emerging markets, including India. "A shift in the US political landscape could have some positive implications for India," said Rahul Singh, CIO-Equities at Tata Asset Management. "A possible easing of trade wars and geopolitical tensions will moderate commodity costs and inflationary pressures, which have been a key concern for the Indian economy."
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He said, if the pace of AI spending in the US slows amid political and regulatory differences, India could compare favourably with emerging markets. "This is especially relevant since the domestic earnings recovery in large-cap sectors is shaping up well, as evidenced by first-half FY27 performance," Singh said.
Asian markets ended mixed. Semiconductor and AI-linked stocks came under pressure on concerns that a Democratic-controlled Congress could slow the pace of US AI investments. Kospi recovered from intraday losses to end 1% higher, while Nikkei 225 pared most of its decline but finished about 1% lower. Taiwan's Taiex shed 0.8%.
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(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
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