Sensex, Nifty Resume Upmove A Day Ahead Of Election Results

Sensex, Nifty Resume Upmove A Day Ahead Of Election Results

Indian equity benchmarks resumed the upmove after day's break in Tuesday's session a day ahead of outcome of general election due tomorrow. The benchmarks have gained in four out of the last five sessions. Earlier in the day, the S&P BSE Sensex rose as much as 279 points to touch intraday high of 39,249.08 and the NSE Nifty 50 Index climbed to touch high of 11,785 but gave up the high levels. The gains in today's session were led by IndusInd Bank, HDFC, ICICI Bank and Larsen & Toubro.

The S&P BSE Sensex rose 140 points or 0.36 per cent to close at 39,110 and the NSE Nifty 50 Index advanced 29 points or 0.25 per cent to shut shop at 11,738.

Fifteen of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Bankex Index's 0.9 per cent gain. Finance, Industrials, Auto, Oil & Gas and Realty sector shares also witnessed buying interest as the respective indexes rose between 0.5 and 0.87 per cent each.

On the other hand, S&P BSE FMCG Index was top loser as the index fell 0.84 per cent.

Mid- and small-cap shares ended on a mixed note as the S&P BSE MidCap Index fell 0.2 per cent and the S&P BSE SmallCap Index rose 0.5 per cent.

InduaInd Bank was top gainer in the Nifty 50 basket of shares, the stock rose 5.5 per cent to Rs 1,528 after its net profit declined 62 per cent to Rs 360 crore on the back of nearly five-fold jump in provisioning for bad loans. Its gross non-performing assets as a percentage of total advances spiked to 2.1 per cent from 1.13 per cent in the previous quarter.

Sun Pharma, Bajaj Auto, Bharat Petroleum, Eicher Motors, Hero MotoCorp, Bharti Airtel, Coal India and Tata Motors were also among the gainers.

On the flipside, Tech Mahindra, Indiabulls Housing Finance, Bharti Infratel, Yes Bank, Zee Entertainment, Wipro and Cipla were among the losers.

Among the individual shares, DHFL fell as much as 18 per cent to Rs. 107.15 on the BSE on Wednesday, after it stopped taking new fixed deposits and blocked premature withdrawals following a credit rating downgrade.

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