Markets Trade Higher Ahead Of US Election Outcome

Global and Indian markets rallied ahead of the US Election results, which were still too close for analysts and news channels to call. Dow Jones had seen a solid rally on Tuesday and Wednesday pointed to further gains as Dow Futures jumped almost 1.5 per cent. In Asia, most of the stock were higher even after a solid rally on Tuesday.

The Sensex was trading with gains of 150 points, while the Nifty jumped 50 points in trade at 11,864 points. Banking stocks which had rallied over the last couple of days saw selling pressure at higher levels. ICICI Bank lost more than 1 per cent in early trade.

State Bank of India was trading higher ahead of results to be declared later today. The stock was up 0.50 per cent in trade.

Shares in multiplex PVR gained 5 per cent even after the company posted consolidated loss at Rs 183.9 crore in Q2FY21 against profit of Rs 47.9 crore, revenue fell to Rs 40.4 crore from Rs 973.2 crore.

Adani Gas shares were higher after the company reported net profits at Rs 136 crore in Q2FY21 against Rs 120 crore.

Among the Nifty stocks that declined were Power Grid, Bajaj Auto, UPL and HDFC among others.