Indian Markets Gain; BSE Sensex Up Over 400 Points

Indian stock markets opened higher on Thursday. The S&P BSE Sensex climbed 413 points, or 1.52 percent at 27665.68. The 30-share index touched a low of 27,491.93 in the morning trade. The Nifty50 rose 1.63 percent to 8569.85, reaching a low of 8,512.90 in the morning trade.

The S&P BSE Midcap Index rose 1.8 percent, while the BSE S&P Smallcap Index gained 2.1 percent.

Tata Sons disclosed that it has removed Cyrus Mistry as Chairman of TCS. Ishaat Hussain has been named as new Chairman of the Company

Tata Steel, SBI and Sun Pharma were among the major gainers.

The Indian rupee rose around 7 paise versus the U.S. dollar to trade at 66.36.

Republican Presidential candidate Donald Trump won the 2016 Presidential election against Hillary Clinton. US stock markets closed higher overnight, with the Dow Jones Industrial Average gaining 1.40 percent, the S&P500 index gaining 1.11 per cent, and the Nasdaq Composite surging 1.11 percent.

US WTI crude futures on the NYMEX dropped 0.33 percent to trade at $45.12 per barrel.

Top market movers among the BSE index are as follows

• RS Software (India) Ltd. rose about 20 percent to 78.75 INR.
• Welspun Corp Ltd. rose 20 percent to 73.65 INR.
• Mukand Engineers Ltd. shares surged 20 percent to 37.35 INR.
• Kiran Vyapar Ltd. shares gained around 16 percent to 116.50 INR.

• Birla Cotsyn (India) Ltd. dropped around 50 percent to 0.05 INR.
• MPS Infotecnics Ltd. fell around 33 percent to 0.10 INR.
• Pan India Corporation Ltd. slipped 17 percent to 0.25 INR.
• Raj Rayon Industries Ltd. shares declined 14 percent to 0.30 INR.