Indian benchmark indices, which tracked global peers to rally by over 1% each amid trends pointing to Trump's victory, could extend their rebound from recent lows on institutional short-covering and fresh buying in information technology counters, according to some analysts. This, however, may not last long, they said.
On Wednesday, though, the market rally added â¹7.75 lakh crore to investor wealth in India.
Experts say Trump is expected to cut corporate tax rates in his second term as US president next year, which could lead to increased spending, benefiting Indian technology services companies.
Besides, the US Federal Reserve seems set to cut interest rates for a second time since September, which is also expected to boost spending. The US Fed, which is meeting today to deliberate on its monetary policy, will announce its decision on 7 November.
However, if tax rates are lowered, the US could borrow more, resulting in higher inflation in the US and push up bond yields there even if the US Fed cuts its policy rate. This would result in fiscal and monetary dichotomy, according to some analysts.
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