Tue, Feb 13, 2024 4:06 PM
Taking Stock: Market bounces back on favourable data; banks outshine
A Flip by Avya Verma
The S&P 500 and the Dow scaled all-time highs on Wednesday, while the Nasdaq also jumped, as Republican Donald Trump won the 2024 U.S. presidential election in a remarkable comeback four years after he was voted out of the White House. The Dow Jones Industrial Average rose 628.5 points, or 1.49%, at the open to 42850.4. The S&P 500 rose 82.1 points, or 1.42%, at the open to 5,864.89.
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Trump Media & Technology Group stock (DJT) surged around 20% in early trading on Wednesday as Donald Trump clinched victory over Kamala Harris in the presidential election. Ahead of the opening bell, shares had jumped as much as 36% in premarket trading. With a win in Wisconsin, Trump secured the 270 electoral college votes needed to win, according to the Associated Press.
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On November 6, Domestic Institutional Investors (DII) net bought shares worth Rs 4,889 crore. On the other hand, foreign institutional investors (FIIs) net sold shares worth Rs 4,446 crore, provisional data from NSE showed. Indian markets also responded positively on news that former US President Donald Trump will be coming back to power for a second term.
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