Sensex recovers 117 points ahead due to Gujarat polls

Dec 18 2017 04:29 PM
Sensex recovers 117 points ahead due to Gujarat polls

Before the exit polls of Gujarat elections, hope was seen in the market and the Sensex rose 117 points in the initial trading session. Nifty also crossed the 10,200 mark. The 30-share BSE Sensex rose 116.70 points, or 0.35%, to 33,169.74. In the last two sessions, it saw 402.75 points fall. 

Similarly, based on the National Stock Exchange's 50-share Nifty, Nifty is 37.70 points, ie 0.36%, at 10,230.65. According to the brokers, there was a positive trend in the market before the exit polls were held on the last day of Gujarat elections. While doing the last job as President of the Federal Reserve, Janet Yellen raised policy interest rates from 1.25% to 1.5%. This also helped the domestic stock market.

Prominent gainers were Dr. Reddy’s, ONGC, Wipro, Bharti Airtel, Infosys, Heromoto Corp and Lupin, rising up to 0.86 percent.  All sectoral indices, including realty, consumer durables, oil and gas and metal stocks traded positive, with gains of up to 0.85 percent. 

Investors took their cue from another Wall Street record after an upbeat assessment of the US economy by the Federal Reserve. Hong Kong’s Hang Seng was up by 0.29 percent while Japan’s Nikkei fell 0.14 percent and Shanghai Composite shed 0.20 percent in early trade today.  The US Dow Jones Industrial Average ended 0.33 percent higher yesterday.

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