Indian stocks bounce back as investors rush to safe-haven financial shares

Indian stock-market showed an unexpected turn-around on nov 5th‚ as investors moved their money into low-cost financial stocks before the us presidential election. The nifty-50 jumped 0.91% to 24‚213.3 while the sensex went up 0.88% to 79‚476.63

The market day started rough (with both indexes down 0.6%) but everything changed in last two trading hours. The recent five-week down-trend saw markets drop roughly 8% from their sept peaks‚ due to weak company results and foreign money leaving indian markets

The buying in financials which lifted markets higher is due to investors parking their funds in segments with valuation comfort for safety ahead of key events like the U.S. presidential election

The race between Kamala Harris and Donald Trump stays super-close in polls‚ with final results expected to take many days. Market experts think trumps win could help indian stocks through lower us taxes while harris victory means business-as-usual for markets

The financial sector index jumped 2% with HDFC Bank — the markets biggest stock going up 2.6%. Most market sectors ended positive; small and mid-sized companies gained 0.5%. Metal stocks did great too rising 2.8% because of better chinese demand and weak us dollar