Sensex clocks 216-point gain after kissing 33,621 intraday, Nifty ends at 10,333; focus turns on Gujarat results

By: | Published: December 15, 2017 3:54 PM

Indian stock markets closed higher on Friday after blazing in the morning trades as investors rejoiced the exit poll results which has predicted an easy win for BJP in Gujarat and Himachal Pradesh. Now focus has turned onto the results which are all set to be announced on 18 December.

In the intraday trade, Sensex jumped as many as 375.26 points to hit the day’s high at 33,621.96. (Image: Wikimedia Commons)

Indian stock markets closed higher on Friday after blazing in the morning trades as investors rejoiced the exit poll results which has predicted an easy win for BJP in Gujarat and Himachal Pradesh. S&P BSE Sensex concluded 216.27 points or 0.65% higher at 33,462.97 whereas NSE Nifty added 81.15 points or 0.79% to settle at 10,333.25. The key equity indices Sensex and Nifty traded higher through the day. Shares of HDFC Bank, HDFC gained phenomenally ahead of meetings in which both are mulling to look for options for fundraising in their respective board meetings scheduled on 19 and 20 December. In the intraday trade, Sensex jumped as many as 375.26 points to hit the day’s high at 33,621.96 while Nifty 50 index neared 10,400, rising by 119.55 points to hit the day’s high at 10,373.1.

M&M, Coal India, Dr Reddy’s, Adani Ports, HDFC Bank, Tata Steel, Lupin emerged as the major gainers on Sensex today while a downtick in Cipla, ONGC, SBI, Asian Paints, TCS, Bharti Airtel contributed to the losses in the index. The stocks of heavyweight companies such as HDFC Bank, M&M, Infosys, L&T, HDFC, Axis Bank, and Coal India provided the major boost to the index. Collectively these six stocks alone added about 183 points out of the 216-point gain in the index.

Sensex and Nifty gained heavily in the early trades on Friday after the Bharatiya Janata Party saw heading for victories in Gujarat and Himachal Pradesh as the most of the exit polls showed a saffron wave in both states. As far as the state of Gujarat is concerned, almost all exit polls predicted more than 100 seats out of 182 for the BJP where the party has been positioned in power nearly for last two decades. Meanwhile, in the state of hills Himachal Pradesh, where the electorate has chosen the Congress and BJP alternately in Assembly elections, the exit polls projected a clear majority for the saffron party, unseating the Congress.

A party or an alliance has to win at least 92 seats in the 182-member House to form the government in Gujarat. The Times Now-VMR Exit poll predicted 113 seats for the BJP and 66 for the Congress, with the remaining going to others. The Republic-C Voter Exit Poll gave the BJP 108 seats and the Congress 74. The ABP-CSDS exit survey by ABP News predicted a BJP victory in 117 seats as against the Congress’s 64. The NDTV said the BJP was likely to clinch 112 seats and the Congress 70.

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