Volatile Nifty Settles Above 10,250 Ahead Of Exit Polls
Indian equity benchmarks rose in a volatile trading session ahead of Gujarat and Himachal Pradesh exit polls which will be declared later in the day.
The S&P BSE Sensex rose 0.59 percent or 194 points to 33,246.70 and the NSE Nifty 50 Index advanced 0.58 percent or 59 points to 10,252.10.
For the most part of the day, the Sensex and Nifty swung between gains and losses.
Fifteen out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Oil & Gas Index's 1 percent gain. On the flipside, the S&P BSE Consumer Durables Index was the top sectoral loser, down 0.6 percent.
Nifty Surges In Late Trade Led By ITC, Axis Bank
Angel Broking To BloombergQuint
Basic premise is BJP will win Gujarat Assemble Elections. However, the quantum of win will matter. Meanwhile, the markets have not factored in the worst election outcome. If there is a selloff after the election, we will look at buying qualitative stocks in falling market.Mayuresh Joshi, fund manager at Angel Broking
Fab Four Stocks Of The Day
- Oberoi Realty: Shares of the Mumbai-based real estate developer rose as much as 6.72 percent, the most in over a month, to Rs 482 after domestic brokerage Motilal Oswal initiated coverage on the stock with a 'buy' for target price of Rs 580.
- Religare Enterprises: The Delhi-based financial services firm rose as much as 5 percent, the most since Dec. 1, to Rs 60.25 after 1.1 crore shares (6.2 percent equity) changed hands in a single block.
- Prataap Snacks: The Indore-based snack maker rose as much as 10.46 percent, the most since Nov. 29, to Rs 1,415 after it reported strong earnings in September quarter.
- Sandur Manganese: Shares of the Karnataka-based miner rose as much as 5.45 percent, the most since Dec. 11, to Rs 1,215 after the Supreme Court increased the cap on iron ore mining from 30 million tonnes to 35 million tonnes in Karnataka.