BSE Sensex, NSE Nifty, Gold Price on March 05, 2014
Wed Mar 05 2014, 23:32 hrs
Benchmark indices extended gains on Wednesday with the BSE benchmark, the BSE Sensex ending 67.13 points or 0.32% higher at 21,276.86 points. Experts feel outcome of elections would be the key trigger for the markets. "The outcome of national elections is important in that the formation of a stable government post the 2014 national elections will likely result in a further push to the ongoing economic reforms," Kotak Institutional Equities said in a research report on wednesday.
India's mammoth Lok Sabha election will start on April 7, the Election Commission announced on Tuesday, kicking off a race that will pit charismatic Narendra Modi-led Bharatiya Janata Party leader against the ruling Congress party. Counting of votes in all the 543 Lok Sabha constituencies will be held on a single day on May 16, Chief Election Commissioner V S Sampath announced at a press conference flanked by ECs H S Brahma and S N A Zaidi.
The rupee today rose to its highest level in over a month and closed 10 paise up at 61.75 against the dollar following sustained selling of American currency by exporters and some banks, amid firm local equities.
Extending losses for the second day, gold prices declined by another Rs 140 to Rs 31,100 per ten gram in the national capital today on sluggish demand amid a lower global trend. Traders said besides sluggish demand at prevailing higher levels, a weak global trend where gold declined from a 17-week high following easing tensions between Russia and Ukraine mainly reduced demand for the precious metals as a safe haven.
Benchmark indices extended gains on Wednesday with the BSE benchmark, the BSE Sensex ending 67.13 points or 0.32% higher at 21,276.86 points, while the NSE Nifty closed 30.70 points or 0.49% higher at 6,328.65 points. Election commission announced that 2014 general elections would be held from April 7 to May 12.