Sensex Slumps 349 Points, As Trump Ahead Of Clinton In Opinion Poll

Benchmark indices fell in trade, as Asian and the US markets dropped, after US Presidential candidate Trump was ahead in a new opinion poll.

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The Sensex ended the day sharpy lower, as Asian markets dropped and the US markets closed lower, after an ABC News/Washington Post poll showed Trump was one per centage point ahead of Hillary Clinton.

Sensex Slumps 349 Points, As Trump Ahead Of Clinton In Opinion Poll
This was the first such lead since May 2016. Markets had hitherto factored a win for Hillary Clinton, but, with Trump edging past in opinion polls, markets were worried over uncertainty.

The Sensex ended the day lower by 349 points, while the Nifty ended lower by 112 points.

Leading the set of losers in trade were stocks like Oil and Natural Gas Corporation, which lost as much as 4 per cent, while other losers were State Bank of India, Bharat Heavy and Sun Pharmaceuticals.

Mahindra and Mahindra surged in trade and the stock ended almost 4 per cent higher, while Hindustan Unilever and NTPC were the other gainers in trade.

IT stocks were the worst hit in trade on worries that if Trump wins the US Presidential race, there maybe some changes to the H1-B visa programme.

Infosys, Wipro and MindTree shares fell to a new 52-week low, as investors continued to sell into IT stocks.

Among the non index stocks, MOIL rallied after the company hiked ferro grades prices by 30 percent from November 1.

Meanwhile, the rupee was trading at 66.80 to the US dollar.


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Read more about: sensex, nifty
Story first published: Wednesday, November 2, 2016, 14:49 [IST]
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