India’s IT and pharma stocks: Winners and losers in India from US Vote
Published On: Thursday, October 29, 2020 | By: Team KnowMyStock
Investors in India will be watching closely information technology and pharma stocks as they await the outcome of next week’s US presidential election. Drugmakers and software exporters are the top performers in India’s $2.1 trillion equity market this year amid the pandemic. The result of the Nov. 3 vote could have a bearing on these companies through taxation, trade and immigration policies, and currency movements. More broadly, India is seen emerging as one of the biggest beneficiaries in the Asia Pacific from the election, irrespective of the outcome, according to UBS Group AG. A UBS analysis of the potential impact on a dozen of the region’s biggest markets put India as a winner in each of their three chosen scenarios: a Biden and Democrat sweep, a Biden victory, and divided Congress, and a status quo Trump victory. The study, published last month, takes into account factors like trade and foreign policy, Federal Reserve policy, and fiscal spending on infrastructure.
The benchmark S&P BSE Sensex Index dropped an average 2.1% in the five trading sessions following the last five U.S. presidential elections, according to data compiled by Bloomberg.
We are on Telegram!
JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.
Click Here!
Follow Us On:
