Sensex ends 355 pts higher amid tight US presidential race; IT stocks gain

All that happened in the markets today

9:16 AM

Opening Bell

9:12 AM

US Elections :: Electoral College Tally at 9:10 am

>> Democrat Joe Biden leads in 131 votes

>> Republican Donald Trump leads with 108 votes

9:08 AM

US Elections Update :: Donald Trump is projected to win Utah, per NBC and ABC, reports Bloomberg

9:05 AM

Commodity Heatmap

9:04 AM

Top gainers and losers on the S&P BSE Sensex at Pre-open

9:02 AM

Markets at Pre-open

9:01 AM

Markets at Pre-open

8:59 AM

US Elections Update

>> Donald Trump is leading in the battleground States of North Carolina, Ohio, Pennsylvania, Texas, Florida, Virginia, Wisconsin, Michigan, Georgia so far

 

>> These 9 states have total 176 electoral votes at stake

8:57 AM

Impact of US Presidential Elections on global markets

A Democratic victory in the presidential poll, and a related takeover of Congress, according to Christopher Wood, global head (equity strategy) at Jefferies, will see pressure from the activist side of the party to embrace more formally policies aligned with Modern Monetary Theory. Such policies, he believes, would turn the US Federal Reserve (US Fed) into an instrument of fiscal policy obliterating any lingering sense of central bank independence. READ MORE

8:55 AM

Stocks to watch today

PVR: The company on Tuesday reported a consolidated loss of Rs 184 crore for the second quarter of the current fiscal as compared to profit of Rs 48 crore during the corresponding period of last year.

 

Adani Ports: Adani Ports and Special Economic Zone (APSEZ) reported 31.6 per cent rise in consolidated net profit to Rs 1,387 crore on 2.9 per cent increase in revenue from operations to Rs 2,902.52 crore in Q2 September 2020 over Q2 September 2019.

 

Earnings today: A total of 91 companies including State Bank of India, Lupin, and Adani Enterprises, are scheduled to announce their quarterly results today. READ MORE  

8:53 AM

Expert View :: Hitesh Jain, Lead Analyst – Institutional Equities, YES SECURITIES

There is a strong chance that Democrats have a majority in Senate, which implies higher fiscal spending. In terms of connotation for the markets, we should brace for a transient sell-off in US equities and fall in US dollar, Ergo, Gold could rally higher, helped by a tumbling US dollar and concerns of higher fiscal spending and potentially rising inflation. Needless to mention, Fed will remain tolerant of the same, with the central bank recently articulating that it will stand pat on interest rates for the next three years. In case of Biden as the next US President, Base metal prices should move higher as US/Chinese relationship will stabilize and markets start pricing in a probable trade deal.
 

On the contrary, If Trump reclaims Presidency and Republicans maintain majority in the US Senate, we could have an ensuing stock market rally and stronger US dollar, as investors will be pleased with the fact that US corporate taxes will remain low. On the commodity front, Trump victory will translate into weaker tone in precious and base metals, with non-ferrous complex being the most vulnerable, hauled lower by prospect of heightened trade tensions with China.

In case of a mixed equation, where Mr. Biden turns out to be the next US President, while Senate is controlled by Republicans. Markets will construe this sort of power sharing as an impasse on various reforms and nothing dramatic will be seen in the next four years."

8:50 AM

'Nifty may register new all-time high once it conquers 12,050'

Nifty has surpassed the crucial resistance of 11,750, which happened to be the previous three session’s high. BankNifty has been outperforming Nifty with a huge margin. BankNifty has reached at the highest level since March 11, 2020. Nifty is expected to move up with the upside target of 12,000-12,050. A close above 12,050 would brighten the chances for the new all-time high above 12,430 in Nifty. Trading longs should have stoploss at 11,700 in Nifty. READ MORE

8:48 AM

Morgan Stanley on Markets

>> Although some volatility may lie ahead, the end of the US election cycle and progress on a potential coronavirus vaccine may bring some optimism to markets. 

8:46 AM

Biden good for emerging markets; dollar to gain from Trump win: Analysts

“Biden has indicated raising corporate taxes and capital gains tax if voted to power. This has seen investors book profit ahead of the outcome in the US and the money will look at other geographies, including EM. US Federal Reserve (US Fed) on its part is likely to keep the monetary policy accommodative and more stimulus is expected, which again will benefit EM. On the other hand, a Donald Trump win will see US dollar strengthen and could also be negative for world trade given his earlier stance on China,” said Jyotivardhan Jaipuria, founder Valentis Advisors. READ MORE

8:44 AM

ALERT :: Dow Futures bounces back 700 pts from lows

>> Trades 250 point higher