US election impact: Sensex rises 250 points, IT sector shares surge

Amid the presidential election in America, the Indian stock market continues to rage. The IT stock has seen a jump in early trade.

Sensex rises 250 points IT sector shares surge

Voting for the presidential election continues in the US. At the same time, the counting of votes has also started in some states. The American election has also affected the Indian stock market. After rising by 500 points on Tuesday, the Sensex has once again seen a rage. On Tuesday, the third trading day of the week, the Sensex strengthened by over 250 points and crossed the 40,500 mark level. At the same time, talking about the Nifty, 75 points has been strengthened to close to 11,900 points.

Increase in IT share 
During the initial trade, the share of IT sector has registered an increase. Infosys shares were seen trading at around 5 per cent, while Tech Mahindra, HCL and TCS also gained more than 2 per cent. Let us tell you that in the initial trend, Joe Biden is leading the presidential race, while Donald Trump is also seen giving a tough competition. It is believed that in the event of winning, Biden’s policies will be in the interest of India’s IT sector. 

ICICIC Bank’s stock remained profitable during the business and fell by over 2 per cent. Apart from this, shares of Powergrid, Axis Bank, L&T, HDFC were also seen trading on the red mark.  

On Tuesday, the market’s 
Sensex rose 503.55 points or 1.27 percent to reach 40,261.13 points on Tuesday for the second consecutive day. The broad-based NSE Nifty closed at 11,813.50 points, up 144.35 points, or 1.24 percent. ICICI Bank was at the forefront with a 6.51 percent rise in the Sensex incorporated stocks. Apart from this, State Bank, HDFC, Power Grid, Sun Pharma, IndusInd Bank, Titan, Bajaj Auto, Axis Bank and HDFC Bank also benefited. In contrast, shares of NTPC, Reliance Industries, Nestle India, HCL Tech, Hindustan Unilever and Infosys declined. Their share price declined by 3.75 percent.