The Indian stock market faced a broad selloff, with the Sensex and Nifty 50 dropping over 1% each. Mid and small-cap indices fell up to 2%, leading to a market cap decline of about ₹6 lakh crore.

Nomura India believes a Trump win is likely net-negative for Asia ex-Japan stocks, while it sees Harris as net-positive. In the betting markets, Trump has lost some earlier momentum, it noted.

Indian benchmark indices experienced their sharpest decline in over a month, weighed down by uncertainty surrounding the U.S. presidential election. The Nifty fell 1.27% to 23,995, while the Sensex dropped 1.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session in the red. Nifty 50 closed at 23,995.35, while Sensex ended at 78,782.24. Overnight, Wall Street indices ended lower ahead of the US Presidential Election result and the US Fed rate decision this week.