Obama's win enlivens Indian markets; NSE Nifty up 36 points

Though there was no runaway rally, global investors breathed a sigh of relief as Obama's win ended political uncertainty and fears over policy shift in the world's largest economy.

The response of Asian financial markets - the first to react to US poll outcome, reflected a sense of major relief.

At NSE, trading began on a slightly bearish note as investors remained cautious over outcome of US poll results amidst modest profit-taking in frontline counters.

As the election result poured in, domestic markets cheered the outcome with investors resorting to heavy buying, leading to a rebound after early losses. The strong momentum pushed the benchmark index to day's high before it gave away some gains.

Bank, FMCG, technology and auto spaces attracted good buying, while oil and gas scrips encountered profit taking.

The 50-share Nifty oscillated between a high of 5,777.30 and a low of 5,711.40 before concluding at 5,760.10, registering a smart gain of 35.70 points, or 0.62 per cent, over the previous close.

JP Associates, Bank of Baroda, PNB, IDFC, DLF, HDFC, BHEL, SBIN, HCL-Tech and Ambuja Cement were to top percentage- wise Nifty gainers. The key laggards included Tata Power, Coal India, Reliance, Bharti Airtel, Siemens, ACC, BPCL, ONGC, Cipla and Jindal steel.

The turnover in cash segment spiked to Rs 11,069.81 crore from Rs 9,455.39 crore yesterday. Overall, 7,013.66 lakh shares changed hands in 54,52,762 trades. Total market capitalisation was Rs 64,84,700 crore.