Trump Or Biden, No Big Difference For Indian Markets

Domestic equity markets managed to extend gains to a third straight day as investors around the globe awaited the outcome of US presidential election. World markets recovered early nervousness to push higher as US President Donald Trump and Democratic rival Joe Biden appeared to be in a tight race for the White House, while the dollar appreciated nearly 1 per cent against a basket of currencies and bonds jumped as Mr Trump falsely claimed victory shortly after Mr Biden said he was confident of his win. Analysts however say that any outcome will impose only a limited impact on domestic benchmarks in the near term.

Benchmark indices S&P BSE Sensex and NSE Nifty 50 climbed up 0.88 per cent and 0.80 per cent, to settle at 40,616.14 and 11,908.50 respectively.

Analysts however remained optimistic about the possible outcomes of US presidential elections, saying that a Trump or a Biden win would be positive for India.

“Trump or Biden, it will not be a big difference for Indian markets... since both the US parties are bullish on India,” Kochi-based Geojit Financial Services' head of research, Vinod Nair, told NDTV. The US is the fifth largest investor in India, according to the government's National Investment Promotion and Facilitation Agency.