Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
Powered by cricketnext logo
»
1-min read

Nifty, Sensex Edge Higher Day Ahead of Lok Sabha Election Results

Markets have been on a bull run with both the NSE Nifty and the BSE Sensex gaining 6% in three sessions to Monday. Profit booking on Tuesday saw the markets close 1% lower.

Reuters

Updated:May 22, 2019, 4:54 PM IST
facebookTwitterskypewhatsapp
Loading...

Indian shares opened higher on Wednesday led by financials, a day ahead of counting of votes in the general election, in which Prime Minister Narendra Modi is expected to retain power. Modi is set for a clear win, according to the exit polls that came out on Sunday after the seven-phase contest ended.

Markets have been on a bull run with both the NSE Nifty and the BSE Sensex gaining 6% in three sessions to Monday. Profit booking on Tuesday saw the markets close 1% lower.

However, analysts predict that the markets will quickly discount the election results.

"Going forward in the medium term...we expect the markets to consolidate post the election outcome as focus would shift back to fundamentals and global cues which have been volatile due to re-escalation of US-China trade tensions," said Jayant Manglik, president - retail distribution at Religare Broking.

The broader NSE Nifty was up 0.04% at 11,714.15 as of 0406 GMT, while the benchmark BSE Sensex was 0.14 % higher at 39,025.91.

"Technically, while the Nifty has corrected, the underlying trend remains up. Further upsides are likely once the immediate resistances of 11,857-11,884 are taken out. Crucial supports to watch for any weakness are at 11,682-11,657," Deepak Jasani, Head of Retail Research at HDFC securities.

Asian stocks remained jittery despite Washington's temporary relaxation of curbs against China's Huawei Technologies. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.05% higher.

ICICI Bank Ltd gained 1.4% while index heavyweight Housing Development Finance Corp Ltd rose 1%.

Tech Mahindra Ltd fell as much as 3.7% after March-quarter profit dropped 7.4% and missed estimates.​

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Indiabulls Hsg 599.75 7.97
Yes Bank 114.55 11.00
UPL 870.25 -8.42
IndusInd Bank 1,435.60 3.93
ICICI Bank 433.40 3.24
Company Price Change %Gain
Yes Bank 114.55 10.94
Indiabulls Hsg 599.95 8.02
Maruti Suzuki 6,637.20 3.17
Jet Airways 64.00 93.35
Shriram Trans 1,094.55 3.10
Top Gainers
Company Price Change %Gain
Yes Bank 114.55 11.00
Indiabulls Hsg 599.75 7.97
Sun Pharma 390.50 4.08
IndusInd Bank 1,435.60 3.93
Larsen 1,557.10 3.45
Company Price Change %Gain
Yes Bank 114.55 10.94
Sun Pharma 390.60 4.01
IndusInd Bank 1,435.50 3.80
Larsen 1,556.15 3.36
ICICI Bank 433.35 3.20
Top Losers
Company Price Change %Gain
UPL 870.25 -8.42
Wipro 286.95 -2.41
Adani Ports 401.20 -1.59
Britannia 2,834.05 -1.45
Tech Mahindra 725.55 -1.37
Company Price Change %Gain
HUL 1,806.85 -0.26
HDFC Bank 2,425.50 -0.16
ITC 277.15 -0.07
NTPC 134.55 -0.04

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results