Indian Stocks Rise as Democrats Gain Majority in US Senate

The 30-share BSE Sensex rose as much as 288 points to touch 77 in early trade. The 50-share NSE Nifty was up 23 points. Bharat Electronics, ITC, Adani Ports, HDFC Bank, Bajaj Finserv and State Bank of India were among the top gainers in the 30-share Sensex pack. Power Grid, Eternal, Tata Consultancy Services and Bharti Airtel were among the laggards. Brent crude, the global oil benchmark, fell 0.43 per cent to USD 3 per barrel. According to exchange data, foreign institutional investors bought shares worth Rs 6 billion on Tuesday. Power equations in the US Congress appear to be changing. Democrats are leading Republicans in both the US House of Representatives and the Senate. These election results could have an impact on Donald Trump's legislative agenda. Democrats have won 51 seats. Democrats have a majority in the US Senate.