Gujarat Exit Poll Effect Seen on Indian Equity Indices

Representational Image  - Sakshi Post

Mumbai: Key Indian equity indices -- the BSE Sensex and the NSE Nifty50 -- provisionally closed on a higher note on the back of lingering effects of the exit polls which predicted a BJP win in Gujarat and Himachal Pradesh assembly elections.

"It was all about investors getting excited with exit polls results, Sensex was up over 350 points after exit polls predicted a BJP victory in Gujarat and Himachal Pradesh," Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

According to market observers, the key indices extended gains for the second consecutive session with healthy buying in metals, consumer durables and auto stocks. The wider Nifty50 of the National Stock Exchange (NSE) rose by 81.15 points or 0.79 per cent to provisionally close (at 3.30 p.m.) at 10,333.25 points.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,456.02 points, closed at 33,462.97 points -- up 216.27 points or 0.65 per cent -- from its previous close. The Sensex touched a high of 33,621.96 points and a low of 33,405.82 points during the intra-day trade so far. However, the BSE market breadth was bearish -- 1,572 declines and 1,049 advances. Mahindra and Mahindra, Coal India, Dr. Reddy's Lab, HDFC Bank and Tata Steel were the top gainers on the BSE market breadth.

On Thursday, short covering, along with positive hopes of the ruling BJP's win in the crucial two-phased Gujarat assembly elections, erased the day's entire losses and lifted the indices to close in the green. The NSE Nifty50 edged higher by 59.15 points or 0.58 per cent to close at 10,252.10 points, while the BSE Sensex closed at 33,246.70 points -- up 193.66 points or 0.59 per cent. (IANS)

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