Nifty, Sensex Decline Continues Despite Trump’s Victory

Indian stock markets opened slightly down on Thursday following Donald Trump’s election victory, with Foreign Institutional Investors (FIIs) continuing to sell. The Nifty 50 index began the day flat at 24,489.60 points, while the BSE Sensex dipped by 0.16 percent in early trading to 80,248.60 points.

Global markets generally responded positively to Trump’s win, with experts noting the potentially transformative impact of his administration. However, analysts expect his policies to have mixed effects across sectors. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated, “Trump’s victory could lead to highly transformative decisions as he has the support of both the Congress and Senate. His ‘America First’ approach may strengthen the U.S. economy, but a proposed 60% tariff on Chinese imports and additional tariffs on other imports could drive inflation, impacting the Federal Reserve’s current approach to rate cuts. This could negatively affect global markets.”

In sector performance on the National Stock Exchange, Nifty Auto, Nifty Pharma, Nifty IT, and Nifty FMCG saw gains, while Nifty Bank, Nifty Metal, and Nifty Private Bank declined.

Key companies, including Mahindra & Mahindra, Trent, Rail Vikas Nigam, Linde India, Lupin, NHPC, and Aditya Birla Fashion & Retail, are set to report their quarterly earnings today.

Elsewhere in Asia, Japan’s Nikkei fell by 0.4 percent, while Hong Kong’s Hang Seng rose by 0.68 percent. Taiwan’s weighted index and South Korea’s KOSPI index were up by 1.07 percent and 0.41 percent, respectively. China’s Shanghai Composite gained 0.75 percent, responding positively to Trump’s re-election. U.S. markets surged on Wednesday following Trump’s victory, with the S&P 500 and Nasdaq indices both rising over 2 percent.