Indices move up in 3rd session

Indices move up in 3rd session

Markets maintain momentum as US poll outcome awaited

Mumbai: Equity indices ticked higher for the third straight session on Wednesday, largely in tandem with global markets as investors awaited the outcome of the tightly-contested US presidential election.

Robust buying in market-heavyweight Reliance Industries (RIL) and IT stocks boosted the benchmarks, even as a sharp depreciation in the rupee weighed on sentiment, traders said. After a volatile session, the 30-share BSE Sensex ended 355.01 points or 0.88 per cent higher at 40,616.14. Similarly, the broader NSE Nifty climbed 95 points or 0.80 per cent to 11,908.50.

Vinod Nair, head (research) at Geojit Financial Services, said: "A close contest in the US election spiked volatility in the global market after Tuesday's strong rally. European markets slid at the open after US President Donald Trump claimed that a 'major fraud' was being perpetrated on the American people. Trump said he will take the matter to the Supreme Court, even as the counting of votes was in progress in the battleground states.

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