As Trump towers, bulls of Donald Street take over
The Nifty gained 1.1% or 270.75 points to close at 24,484.05 while the Sensex advanced 1.1% or 901.5 points to close at 80,378.13.
As global investors brace for economic and geopolitical tremors with the US at the epicentre, India is perceived as being among those economies that may benefit from Trump's presidency, which is expected to see higher trade tariffs and lead to an exacerbation of US-China tensions.
«The overall sense in the market is that Trump's policies offer India an advantage over other geographies,» said Pankaj Pandey, head of research, ICICI Securities. «While tariffs are Trump's favoured tool, the tariff arbitrage is favourable for Indian auto, textiles and chemicals exporters.» Trump's election manifesto indicated that the US could impose 10% duty on all imports and a 60% tariff on goods from China.
Elsewhere in Asia, China fell 0.1%, Hong Kong declined 2.23% and Indonesia dropped 1.44%. South Korea ended 0.52% lower while Taiwan gained 0.48%.
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