BJP leading in more than 300 seats indicated that Sensex gains 740 pts as NDA gets a majority in leads
Benchmark indices are trading strong on May 23 with Nifty above 11,950 as BJP led NDA crosses majority in leads.
At 09:54 hrs IST, the Sensex is up 740.53 points or 1.89% at 39850.74, and the Nifty up 216.00 points or 1.84% at 11953.90. About 1240 shares have advanced, 370 shares declined, and 68 shares are unchanged. BJP leading in more than 300 seats indicated that NDA government is expected to retain their power for another five-year term.
"I think this certainly should put the risk out of the way for India. We could see some more FII inflow," Mark Matthews of Bank Julius Baer & Co told CNBC-TV18.
Most people were confident of BJP coming in power, he said.
Overall global investors are cautious on equities due to US-China trade war tensions. IndusInd Bank shares rallied another 5 percent intraday on May 23 as brokerages remained strong despite weak earnings in March quarter.
It had gained 4.84 percent in the previous session after positive management commentary. t is a strong start for the Indian indices on May 23 as counting for Lok Sabha Election 2019 showing NDA is leading on more than 272 seats.
At 09:18 hrs IST, the Sensex is up 539.05 points or 1.38% at 39649.26, and the Nifty up 156.00 points or 1.33% at 11893.90. About 821 shares have advanced, 118 shares declined, and 17 shares are unchanged.
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