Record breaking jump in the Indian Stock Market, as soon as Joe Biden became president
According to the report, Joe Biden has led to a huge boom in the US market from winning the US election to swearing in
As soon as Joe Biden came to power in the US, the effect was seen in the rest of the countries as well. Joe Biden was sworn in as the 46th president on Wednesday. As soon as he took up this position, he has taken many historical steps, reversing policies. Due to this, Indian investors have appeared to be giddy.
In the beginning of trading today, the Nifty has recorded a rise in 1934 stocks and a decline in 267. Among those whose shares have increased, Tata Motors, UPL, IndusInd Bank, Bajaj Finserv have been in the main bank. At the same time, the Energy Index and Nifty Auto have gained 1 percent.
US market shows impact on Indian market
According to the report, Joe Biden has led to a huge boom in the US market from winning the US election to swearing in. According to the CFRA, the S&P 500 has seen a growth of nearly 13 percent. Although it has always been seen that after the election of the President of America, there is an increase in the market, but this time the market has registered the biggest jump from Joe Biden's presidential election to the swearing-in.
This was the condition of the stock market at the time of Trump
Even when Donald Trump won the presidential election, the stock market saw a lot of growth. According to the report, between his victory and swearing in, the market saw a gain of at least six per cent.
The Boom was recorded on the victory of this leader before Biden
Such a record was held after the victory of John F. Kennedy in 1961, before Joe Biden. There was a 73-day gap between his victory and his swearing in. During this time the S&P 500 'was seen to be growing at eight per cent.
Did Joe Biden's decisions affect the Indian market ?
At the same time, it is being said that as soon as Joe Biden was sworn in to take over the post of President of the new America, along with that, he has taken important decisions on some of the steps taken by the Trump government which are mentioned below and either could have affected the Indian market.
- The decision to build a wall on the border has been stopped. Also the funding for this has also been stopped.
- Apart from this, it has now been decided to lift the ban of people coming in from several Muslim countries.
- Not only this, while announcing the financial assistance of common people, he has deferred the installments of student loan till September.