Sensex, Nifty Rally After Exit Polls: Here's a Quick Look at the Market
The BSE PSU Banking index was up 4.5%, followed by BSE Capital Goods index (up 4.4%) and BSE Infrastructure index (up 4.3%).
Representative image (Reuters)
The benchmark stock market indices showed strong positive momentum after exit polls for the Lok Sabha election 2019 projected that the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) will comfortably come back to power. At 11:16 am, the BSE benchmark Sensex was up 921.87 points or 2.4% at 38,852.64, while the Nifty 50 surged 271.10 points, or 2.37%, to 11,677.85.
Here’s a quick look at what is happening on the stock exchanges today:
Top sectoral gainers: The BSE PSU Banking index was up 4.5%, followed by BSE Capital Goods index (up 4.4%) and BSE Infrastructure index (up 4.3%). The Realty index was also up 4.1%.
Top sectoral losers: All the sectoral indices were trading in the green, except the IT index (down 0.4%).
Top Sensex gainers: Among the 30 Sensex stocks, State Bank of India (SBI) was the top gainer, up 6.6%. SBI was followed by Mahindra and Mahindra (up 5.5%) and Larsen and Toubro (5.3%).
Top Sensex losers: Only two of the 30 Sensex stocks were trading in the red, with marginal declines. Both Infosys and Bajaj Auto were down just around 1% each.
Sensex stocks that rose over 5%: Apart from the top gainers, Tata Motors was also up 5.2%, IndusInd Bank surged 5.1%, while ICICI Bank jumped 5%.
Most actively traded stocks: Reliance Industries Ltd (up 4%) was the most actively traded stock on BSE, followed by Axis Bank (up 3%) and HDFC Life (up 3.3%).
Top gainers other than the 30 Sensex stocks: Adani Group stocks jumped. Adani Enterprises rallied 18.5%, Adani Power surged 15.8%, while Adani Green Energy was up 14.4%. Other major gainers included ITI that rose 13.7%, while India Bulls Real Estate climbed 11.9%
Top losers other than the 30 Sensex stocks: Dr. Reddy’s Laboratories dropped 6%, while Jubilant Life Sciences was down 5.6%. Zee Entertainment Enterprises also lost 2.5%, with Tech Mahindra falling 2.4%.
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