Election 2017

Equity indices trade higher as BJP set to win

Agency | December 18, 2017 12:04 PM

Mumbai: Key indices of the Indian equities markets on Monday went up substantially after counting trends indicated a victory for the BJP in both Gujarat and Himachal Pradesh Assembly elections.

The ruling BJP was on Monday set to retain power in Gujarat, with its candidates on the victory lap in 104 of the 182 seats as the Congress again settled for the second place but with an improved showing.

However, on an opening basis, the S&P BSE Sensex and NSE Nifty took an early beating following initial reports of a possible BJP defeat in Gujarat, Prime Minister Narendra Modi's home state.

There was an intra-day swing between the highest and lowest point of trade at the S&P BSE Sensex of over 800 points.

"Till the final results are out markets could swing either way, and if it's confirmed that BJP has managed to win Gujarat with small but decent margins," Deepak Jasani, Head of Retail Research for HDFC Securities, told IANS.

Around 11.38 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 77.65 points or 0.75 per cent at 10,410.90 points.

 

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,364.52 points, traded at 33,712.23 points -- up 249.26 points or 0.74 per cent -- from its previous close.

The Sensex touched a high of 33,762.04 points and a low of 32,595.63 points during the intra-day trade so far.

The BSE market breadth was bullish -- 1,378 advances and 826 declines.

On the BSE market breadth, stocks of Mahindra and Mahindra, State Bank of India, Sun Pharma, Adani Ports and Maruti Suzuki were leading the upward rally.

Have something to say? Post your comment
Must Read
CM mourns passing away of former Punjab Senior Bureaucrat Shivinder Singh Brar
CM mourns passing away of former Punjab Senior Bureaucrat Shivinder Singh Brar
DC leads hundreds of volunteers to pledge for further wiping out the curse of drugs from the Jalandhar
DC leads hundreds of volunteers to pledge for further wiping out the curse of drugs from the Jalandhar
‘Kesari' epitomizes never say die spirit of Sikhs
‘Kesari' epitomizes never say die spirit of Sikhs
On Martyrdom of Bhagat Singh, Shanivar Shramdaan Mission started for clean Mansa campaign
On Martyrdom of Bhagat Singh, Shanivar Shramdaan Mission started for clean Mansa campaign
Congress leaders led by MP Santokh Singh Chaudhary pay floral tributes to Martyr Bhagat Singh
Congress leaders led by MP Santokh Singh Chaudhary pay floral tributes to Martyr Bhagat Singh
Jalandhar Commissionerate Police busts an inter district narcotic smuggling gang with arrest of two smugglers
Jalandhar Commissionerate Police busts an inter district narcotic smuggling gang with arrest of two smugglers
Mansa all set to play host to grand Punjab State Games U-25 women from March 24 to March 27, DC
Mansa all set to play host to grand Punjab State Games U-25 women from March 24 to March 27, DC
Akali Dal rebel Gurtej Singh returns to party
Akali Dal rebel Gurtej Singh returns to party
SDM exhorts youths to exercise their franchise for stronger democracy
SDM exhorts youths to exercise their franchise for stronger democracy
District administration would organize two events to mark martyrdom of Shaheed Bhagat Singh
District administration would organize two events to mark martyrdom of Shaheed Bhagat Singh
MP Santokh Singh Chaudhary celebrates holi with grand “Pomp & Show” at his residence
MP Santokh Singh Chaudhary celebrates holi with grand “Pomp & Show” at his residence
Ex-Indian cricketer Gautam Gambhir joins BJP
Ex-Indian cricketer Gautam Gambhir joins BJP