Stock markets are expected to continue that momentum into the coming trading session after the US Presidential Elections saw Joe Biden oust Donald Trump.Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic benchmark indices, after having surged nearly 6% each last week, are now sitting near their all time highs. S&P BSE Sensex closed Friday at 41,893 points while Nifty 50 is at 12,263 levels. Stock markets are expected to continue that momentum into the coming trading session after the US Presidential Elections saw Joe Biden oust Donald Trump. Asian stock markets were trading higher on Monday morning. Shanghai Composite was up over 1%, followed by Hang Seng. Japanese equity markets were also trading with gains, Nikkei 225 was up 2% and South Korean stock markets were in the green as well. SGX Nifty was trading 143 points higher.
Joe Biden defeated Donald Trump in a marathon counting of ballots for the race to the White House. The former Vice President of the United States is expected to roll back on some of the policies that Donald Trump enacted during his four year stint. Equity markets have been buoyant across the globe since the election result. A stimulus package is still in the making in the United States with no certainty of when it could be announced.
Highlights
India Inc’s good headline numbers for the September quarter are the result of strong rural demand, some price gains, huge savings and the stellar comeback by IT majors. Aggregate revenues are weak but steep cost cuts have helped companies protect their margins. However, companies remain cautious waiting to see whether the spurt in consumption — much of it the result of pent-up demand and purchases for the festive and wedding seasons sustains beyond December.
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A total of 253 companies including Oil India, Equitas Small Finance Bank, Honeywell Automation, JK Cement, NOCIL, Parag Milk Foods, PC Jeweller, Sun Pharma Advanced Research Company, SREI Infrastructure Finance, Triveni Engineering, Venky’s India, VIP Industries and Zuari Agro Chemicals, are scheduled to announce their July-September quarter earnings today.
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Mutual funds pulled out a massive Rs 14,300 crore from equities in October, making it the fifth consecutive month of withdrawal, as fund managers sold stocks to meet redemption requirements. During January-May 2020, mutual funds (MFs) made a net investment of more than Rs 40,000 crore in stock markets, data available with the Securities and Exchange Board of India (SEBI) showed.
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SGX Nifty was seen surging higher on Monday morning. SGX Nifty was up over 150 points as benchmark indices near all-time highs.
Asian stock markets were trading higher on Monday morning. Shanghai Composite was up over 1%, followed by Hang Seng. Japanese equity markets were also trading with gains, Nikkei 225 was up 2% and South Korean stock markets were in the green as well.