Sensex ended up by 355 points; Nifty 11,900 – Business News

Sensex ended up by 355 points; Nifty 11,900 – Business News

Rising for the third straight session, the Sensex rallied by 355 points on Wednesday amid positive stance ahead of the US presidential election results at Reliance Industries, Infosys and Kotak Bank.

After a volatile session, the 30-share BSE index ended 355.01 points or 0.88 percent higher at 40,616.14.

Similarly, the broader NSE Nifty climbed 95 points or 0.80 percent to 11,908.50 points.

IndusInd Bank was the biggest gainer in the Sensex pack, gaining 5 per cent, followed by Sun Pharma, Reliance Industries, Infosys, Kotak Bank and Tech Mahindra.

On the other hand, HDFC, PowerGrid, Axis Bank, ICICI Bank, NTPC and L&T lagged behind.

According to traders, domestic equities followed global stocks that were upbeat before the US presidential election results.

Polls lead to nail-biters, with Joe Biden winning 225 electoral college votes and US President Donald Trump coming in with 213 until the final report. The winner needs at least 270 out of 538 electoral college votes.

Earlier in the day, Trump claimed that there was a “big hoax” on the American people and said he would take the matter to the Supreme Court, even as the counting of votes in the battlefields continued.

Elsewhere in Asia, Shanghai, Seoul and Tokyo ended up with capital gains, while Hong Kong settled in the red.

Stock exchanges in Europe were also trading on positive notes in early deals.

Meanwhile, international oil benchmark Brent crude was trading up 2.72 percent at $ 40.79 a barrel.

The rupee fell 35 paise to close at 74.76 against the US dollar in the forex market.

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