IT index witnesses lesser heat of US election

The US will elect its 45th President on Wednesday and stock markets across the world are dwindling during first half of the trade. The US election votes' counting is showing Trump victory over Hillary Clinton. Meanwhile, BSE Sensex declined by 5.56 per cent in early trades and is trading at 26628.

All the indices dropped more than five per cent on intraday basis. S&P BSE Information Technology index declined by 6.86 per cent on an intraday basis and recovered about 3 per cent to 9483.3.

IT majors, Tata Consultancy Services (TCS), Infosys, HCL Technologies and Tech Mahindra contributed to loss by 138.58, 127.1, 30.31, 30.29 points, respectively on an intraday basis. TCS, Infosys, HCL Technologies and Tech Mahindra declined by 5.64 per cent, 3.14 per cent, 4.97 per cent, 3.06 per cent, respectively on an intraday basis.

On currency perspective, EUR/USD increased by 2.24 per cent to 1.1276, GBP/USD also rose by 1.02 per cent 1.2507. However, USD/JPY is trading at 101.61 with loss of 3.37 per cent. USD/INR increased by 0.27 per cent to 66.99.