Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are top developments from around the world ahead of the trading session of November 7 -Overnight, benchmark indices on Wall Street hit record highs after Republican candidate Donald Trump emerged victorious in the Presidential election and is set for a second term in the White House after a four-year interval. -US Vice President Kamala Harris, meanwhile, told supporters to accept her election loss at the hands of President-elect Donald Trump but urged them to keep fighting for the ideals she espoused in her campaign as she publicly conceded the 2024 presidential race. -All three US benchmark indices ended at all-time high levels post the Trump win. The Dow Jones surged over 1,500 points or 3.5% to close at the 44,000 mark. This was the best single-day gain for the index since November 2022. The S&P 500 saw its best post-election trading session on record, jumping 2.5% to close near levels of 6,000. The S&P 500 notched its 48th record high for 2024, while the Nasdaq Composite also surged 3%, led by a 15% jump in shares of Tesla, to close near the mark of 19,000. -However, this morning, most Asian stocks dropped as investors weighed the market ramifications of a second Trump presidency, with its promise of steeper tariffs. The dollar edged higher after surging more than 1% on Wednesday. Benchmark equity gauges slipped in China, Australia and South Korea, and were mixed in Japan. The Federal Reserve is forecast to cut interest rates on Thursday. -The gains for US stocks reflected expectations that a Trump policy agenda favoring lower taxes and less regulation may support corporate profits. At the same time, Treasury 10-year yields surged 16 basis points on Wednesday on expectations that his fiscal plans and proposal to hike tariffs will drive inflation higher and erode the ability of the Fed to trim borrowing costs. -Now back home, continuing from where we left off after Tuesday's rebound, the market extended its rally on Wednesday, gaining over 1%, bolstered by positive global cues and significant developments in the US elections. BSE-listed companies gained nearly ₹8 lakh crore in market capitalisation in yesterday’s trade. All the sectoral indices closed in the green. Amongst them, the Nifty IT index, reality and oil & gas gained the most. -IT stocks were the biggest contributors to the market rally yesterday, as reflected by the 4% gain in the Nifty IT index, despite the rupee trading sharply lower at 84.29 against the dollar. The rupee experienced a significant drop of 0.20 due to the outcome of the US election, where Republican candidate Donald Trump emerged victorious. Trump's win has strengthened the dollar index, adding pressure on global currencies. -Thursday's trading session will not only be the weekly expiry of the Nifty 50, it will also see earnings reactions from Apollo Hospitals Enterprise, Blue Star, Aadhar Housing Finance, Delta Corp, Jindal Steel And Power, Power Grid Corporation of India, Tata Steel that reported results after market hours on Tuesday. -While there are Nifty results like Mahindra And Mahindra, Trent, broader market names like Lupin, Cochin Shipyard, NHPC, Steel Authority of India, Cummins India, Emami, Emcure Pharmaceuticals, Escorts Kubota, Ircon International, among others will also be reporting results. -The GIFT Nifty was lower this morning despite a strong handover from the US market, trading at a discount of more than 100 pts from Nifty Fut Wednesday close, indicating a start with sharp cuts for the Indian market. Tune in to Marketbuzz Podcast for more cues