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Tuesday, 8 November 2016

Late buying lifts Sensex 132 pts ahead of US election outcome

Buying in late trade helped the BSE Sensex gain 188 points intraday Tuesday, especially ahead of the outcome of the 2016 US presidential elections. The market was rangebound before gaining strength in last hour of trade.

The 30-share BSE Sensex rose 132.15 points to 27591.14 while the 50-share NSE Nifty was up 46.50 points at 8543.55 after hitting an intraday high of 8559.40.

Lori Calvasina of Credit Suisse says under a Hillary Clinton win with a split or Republican Congress, he anticipates a neutral to moderately positive move in US equities in the 0-7 percent range. Under a Trump win, he thinks US equities would fall and base case is for a downward move in the 5-10 percent range.


The broader markets also gained strength with the BSE Midcap and Smallcap indices rising 0.4 percent and 0.2 percent, respectively despite weak breadth. About 1523 shares declined against 1359 advancing shares on the BSE.


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