National: Domestic stock markets on Wednesday positively reacted to the projected victory of Republican candidate and former US president Donald Trump in the US presidential elections.

The Nifty closed in green territory at 24,484.05, up 270.75 points or 1.12 per cent and the BSE Sensex at 80,378.13, up 901.50 points or 1.13 per cent.

During the trading, the BSE Sensex upped over 1000 points at a point while Nifty reclaimed a level of 24,500.

On the National Stock Exchange (NSE), Bharat Electronics Limited, Adani Enterprises, TCS, Wipro, and Infosys were the top gainers. Among the top losers during the trading were SBI Life Insurance, Titan, HDFC Life, IndusInd Bank, and Trent Limited.

All the sectoral indices on the NSE traded in the green territory. Broader indices also posted strong gains, with Nifty Midcap 100 and Nifty Smallcap 100 rising over two per cent each. All sectoral indices ended higher, led by Nifty IT, which surged 3.99 per cent, followed by Consumer Durables, and Realty indices, which gained more than two per cent.

The markets, around the globe except some Asian markets, are positively reacting to the victory of Trump, as S&P 500 futures hit a record high in a broad rally.

The European shares opened higher today, following gains in the US stock futures after early election results indicated Trump's clear victory and Republicans secured control of at least one Congressional chamber.

In Asia, Japan's Nikkei 225 gained 2.61 per cent, while China's main indices showed mixed performance, with Hong Kong's Hang Seng falling 2.23 per cent. Historically, Trump's victory has been seen as negative for Chinese markets due to his anti-China stance.

"Given his "America First" approach to trade policy, a Trump victory might have a big effect on the Indian market. Increased tariffs and protectionism could result from this, which could hurt India's exports to the US. Furthermore, a Trump government may be less enthusiastic about the commercial connection between the US and India, which might have an impact on collaboration and investment in fields like technology and defense," said Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd.