Stock Markets Today: Sensex, Nifty surge 1% each, led by gains in IT stocks

At 12:30 (IST), the US Presidental results showed that Donald Trump won 248 votes and Kamala Harris got 214 votes. Harris and Trump needs 270 votes to triumph the presidency.

IT, Banking stocks lead

The 30-share BSE Sensex gained 711.53 points oregon 0.9 per cent to 80,188.16. The broader Nifty roseate 223.90, oregon 0.92 per cent, to 24, 437.2. The Nifty IT scale surged 3.42 per cent successful the day trades.

“The crisp rebound successful the marketplace yesterday (Tuesday) indicates a halt to the downward inclination witnessed during the past galore days. The information that the rebound is being led by fairly-valued and fundamentally beardown ample banking stocks is important and points to the anticipation of the continuation of the trend,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Poor net a concern

However,  the mediocre net maturation successful Q2 and net downgrades for FY 25 are headwinds that volition constrain a sustained rally.

“The sound and enactment related to the US elections volition past lone for a fewer days, aft which economical fundamentals volition find the absorption of the marketplace trend,” helium said. Shares of Infosys roseate 3.43 per cent connected the NSE. TCS and HCL Tech stock prices gained 3.39 per cent and 3.29 per cent, respectively astatine 12:22 p.m. connected the NSE.

Investor tip

According to Vijayakumar, investors tin utilise the marketplace rallies to determination from high-priced mid and smallcaps to the information of largecaps.