IT Stocks Surge Amidst Trump's Historic Political Comeback

IT stocks soared sharply following the confirmation of Donald Trump's second-term presidency win, boosting benchmark indices. The robust IT index gains reflected increased investor interest, optimistic quarterly results, and potential benefits from revived US equities. The Sensex and Nifty indices experienced notable increases during the trading session.

IT stocks saw a significant rise on Wednesday, sparking a rally in benchmark indices after Donald Trump secured another term as the US president.

Tata Consultancy Services shares rose by 4.21 per cent, Infosys by 4.02 per cent, while Tech Mahindra and HCL Technologies increased by 3.85 per cent and 3.71 per cent, respectively.

Persistent Systems and LTIMindtree also saw increases, with Wipro advancing significantly as well, reflecting broader market optimism.

The BSE IT index climbed 4.04 per cent on the news of Trump's victory, a historic political turnaround in the US, defeating Democratic rival Kamala Harris decisively.

IT companies are expected to benefit from a rebound in US equities after the Republican sweep, impacting the Indian stock market positively, as observed by Pravesh Gour of Swastika Investmart Ltd.

The Sensex index jumped by 901.50 points, closing at 80,378.13, and surged during the day by up to 1,093.1 points. The Nifty index also witnessed significant gains.

Analysts like Prashanth Tapse and Vinod Nair highlighted the positive investor sentiment and IT spending rebound in the US as major factors for these market movements.

(With inputs from agencies.)