Swiggy IPO sees slow start amid US election buzzSwiggy’s $1.3 billion IPO evoked a tepid first-day response, with timing playing a part. The launch happened alongside the US election results, which drew investors’ attention toward stocks that would benefit from Donald Trump’s return to the White House. Trump’s win sparks surprise rally in ITTechnology shares were the surprise winners, defying the popular belief that a Trump win would hurt the sector due to his stance on immigration and outsourcing. In India, infrastructure stocks have underperformed since the general elections in June, with investors shifting toward defensive sectors. But if the US economy continues to thrive, investors might once again flock back to cyclical stocks.

Source: The Hindu November 07, 2024 09:27 UTC