Sensex rallies over 350 pts as exit polls suggest BJP win in Gujarat
Equity benchmarks opened sharply higher on last day of the week Friday after the exit poll results indicated that the BJP is likely to be winner in Gujarat and Himachal Pradesh assembly elections.
The 30-sahre BSE Sensex was up 286.89 points at 33,533.59 and the 50-share NSE Nifty gained 91.40 points at 10,343.50. About 981 shares advanced against 185 declining shares on the BSE.
Adani Ports, Vedanta, Tata Steel and Bajaj Auto were early gainers while Kotak Mahindra Bank and Infosys were flat.
Nifty Midcap as well as Nifty Bank indices gained 1 percent each.
The rupee jumped 19 paise to 64.15 against the dollar today on exit poll findings that the BJP is set to win in Gujarat and Himachal Pradesh assembly elections.
According to the findings released yesterday, the BJP is set to retain Gujarat and wrest Himachal Pradesh from the Congress. This led to a ripple effect on the stock market, which zoomed, impacting in turn the rupee sentiment.
The dollar lost some mojo against the euro after the European Central Bank left its policy rates and stimulus measures intact. The Bank of England, too, kept key interest rates unchanged.
Yesterday, the rupee bounced 10 paise to end at 64.34 a dollar.
HDFC has sold 1.29 crore shares of Unitech in the open market and invoked nearly 8.2 crore pledged shares of the crisis-hit realty firm.
HDFC has sold 1,29,19,566 shares carrying voting rights worth 0.49 percent stake, and invoked 8,19,88,820 pledged shares worth 3.13 percent stake, according to a regulatory filing.
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