As Trump towers, bulls of Donald Street take over
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Mumbai: The election of Donald Trump as the next US President sent Indian equities surging on Wednesday. The benchmark indices gained over 1% each, led by information technology (IT) stocks, which soared on expectations that the sector will benefit from Trump's plans to strengthen the US economy. The Nifty gained 1.1% or 270.75 points to close at 24,484.05 while the Sensex advanced 1.1% or 901.5 points to close at 80,378.13. As global investors brace for economic and geopolitical tremors with the US at the epicentre, India is perceived as being among those economies that may benefit from Trump's presidency, which is expected to see higher trade tariffs and lead to an exacerbation of US-China tensions. "The overall sense in the market is that Trump's policies offer India an advantage over other geographies," said Pankaj Pandey, head of research, ICICI Securities. "While tariffs are Trump's favoured tool, the ...