Sensex, Nifty continue to skid as Donald Trump elected US President

New Delhi [India], Nov 8 : The market on Wednesday continued to skid with the Sensex down 764.19 points or 2.8 percent at 26826.95, and the Nifty down 242.50 points or 2.8 percent at 8301.05 as US Republican Donald Trump was announced as the 45th President of the United States.

Former Secretary of State Hillary Clinton conceded her defeat after Trump ended long election by grabbing 276 electoral votes from 27 states, six more than the 270 needed to win the Presidency.

Shares such as Adani Ports, BHEL, Hero MotoCorp, TCS and ICICI Bank are losers in the Sensex while Dr Reddy's Labs, Lupin and NTPC are gainers.

European stock futures fell sharply and were poised for their worst day since the Brexit vote in the UK as global markets were left stunned by the rising possibility of Donald Trump becoming the next US President.

Futures for the FTSE, DAX and CAC were down 3.3-3.9 percent lower. Asian stock markets tumbled and investors scrambled into assets perceived to be safe on nervousness over the outcome of the U.S.

presidential election. Japan's Nikkei 225 tanked 5.36 percent, or 919.84 points, at 16,251.54, as the yen, regarded as a safe haven currency, strengthened amid nervousness over the vote.

On the other hand, Dollar/yen was trading at 102.65 as of 3:08 pm HK/SIN, after climbing as high as 105.46 earlier.

At the yen's strongest level in Wednesday's session, it was fetching 101.15 per dollar. Republican Donald Trump edged closer to winning the White House with a series of shocking wins in key states such as Florida and Ohio, rattling world markets that had expected Democrat Hillary Clinton to defeat the political outsider in Tuesday's US election.

Source: ANI