BJP win lifts market sentiment, key equity indices trade higher
The key indices of the domestic equity markets traded with gains during the mid-afternoon session on Tuesday in response to Bharatiya Janata Party\'s (BJP) win in the Gujarat and Himachal Pradesh assembly polls.
Mumbai:The key indices of the domestic equity markets traded with gains during the mid-afternoon session on Tuesday in response to Bharatiya Janata Party's (BJP) win in the Gujarat and Himachal Pradesh assembly polls.
According to market observers, a surge in auto, consumer durables and metals stocks, coupled with favourable global cues, kept investors' sentiments buoyed.
At 1 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded higher by 33.15 points or 0.32 per cent at 10,421.90 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,732.08 points, traded at 33,698.18 points -- up 96.50 points or 0.29 per cent -- from its previous close.
The Sensex touched a high of 33,746.73 points and a low of 33,666.62 points during the intra-day trade so far.
The BSE market breadth was bullish -- 1,789 advances and 709 declines.
"Post Gujarat Election Results, optimism in the market continued with indices trading in Green. Mahindra and Mahindra, Maruti Suzuki, HDFC bank, Bajaj Auto, Ultra Tech Cement continued with positive journey," Anita Gandhi, Whole Time Director at Arihant Capital Markets, told IANS.
"In the Nifty, UPL (United Phosphorus), Hero MotoCorp and Eicher Motors were major gainers," Gandhi added.
On Monday, the key indices closed with gains after swinging from the extreme negative to the positive.
The NSE Nifty50 rose by 55.50 points or 0.54 per cent to close at 10,388.75 points, while the BSE Sensex closed at 33,601.68 points -- up 138.71 points or 0.41 per cent -- from its previous close.