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Sensex jumps on FBI relief for Hillary Clinton in e-mail server probe

The 30-share index, which had lost 667.36 points in the previous five sessions, rallied by 317 points, or 1.16 per cent, at 27,591.15.

sensex, sensex today, sensex prices, sensex gains, sensex Monday, Monday sensex, clinton, clinton emails, business news, indian express, The Sensex surged 317 points on Monday. (File Photo)

Buoyed by the US FBI clean chit to Hillary Clinton in the personal email server probe and recent polls that project her to be leading the race for the White House, the benchmark Sensex at Bombay Stock Exchange gained for the first time in six trading sessions.

On Monday, the Sensex rose 185 points or 0.68 per cent to close at 27,458.99 in line with the gains in Asian and European markets.

WATCH VIDEO: US Presidential Elections 2016: Here Is The Full Process

The broader Nifty at the National Stock Exchange gained 63 points or 0.75 per cent to close at 8,497.05 on Monday.

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The gains followed the rise in Asian markets in the morning hours. The strength continued in the afternoon hours as the European markets opened on a strong footing.

While the US elections and outcome speculation caused nervousness in global markets last week, the news of a reprieve for Clinton from US Federal Bureau of Investigation (FBI), just ahead of polls, brought cheer for investors as the investigative agency did not find any material evidence for potential criminal charges.

During the day both the foreign and domestic institutional investors turned net investors. While the DIIs pumped in a net of Rs 779 crore on Monday, the FIIs invested a net of Rs 311 crore in Indian equities. Besides this, domestic equities got a major push from covering-up by speculators, who had been creating short positions.


“Market reacted positively to the outcome of US FBI’s clean chit to the Democratic presidential candidate. Investors expressed an interim relief in the midst of escalating worry in the final lap of election battle. Further, short covering on pharma, bank stocks has also supported the rally,” said Vinod Nair, head of Research, Geojit BNP Paribas Financial Services Ltd.

The Indian markets were up for the first time in six trading sessions on Monday. Over the last five sessions the Sensex had lost an aggregate of 667 points or 2.4 per cent. Monday saw strong buying activity across all sectoral indices, except telecom and capital goods that closed in the red.

While the metal index at BSE was up 1.94 per cent, the healthcare and banking indices rose 1.89 and 1.7 per cent respectively.


Tracking overall trends, broader markets were also in better shape with the small-cap surging 1.19 per cent and the mid-cap index rising 0.59 per cent. In the domestic market, 21 scrips out of 30 ended higher while only nine scrips closed lower.

The top gainer on the day was Lupin with 6.93 per cent rise to Rs 1,519. The company has announced it received a notification that the inspection carried out by US Food and Drug Administration (FDA) in March 2016 at its Goa facility is now closed and the agency has issued an Establishment Inspection Report (EIR). This closes all outstanding US FDA inspections at Lupin’s Goa facility.

Other major gainers include: State bank of India (4.06 per cent), ICICI Bank (3.36 per cent), ITC (3.05 per cent), Tata Steel (2.10 per cent), Hero Motoco (2.05 per cent).

First published on: 08-11-2016 at 02:12:44 am
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