Equity benchmark indices on Thursday spurted to a record high level with the Sensex and Nifty crossing 40,000 levels and 12,000 levels respectively after counting showed that BJP and its partners are leading over opponents.
At 11:05 AM, IST, the Sensex was trading 794 points higher at 39,905 levels, while the Nifty spurted 228 points at 11,666 levels.
The ruling alliance is ahead in over 324 seats, while the main opposition Congress and its partners are leading in 105 seats as of 11:10 AM, IST.
Shares of Sun TV Network were trading 4% higher on Thursday after counting of votes in early trend shown that Dravida Munnetra Kazhagam (DMK) is leading in Tamil Nadu.
Reliance Industries, HDFC twins, ICICI Bank, L&T, and SBI were contributing to the S&P BSE SENSEX 50’s gain.
On the NSE, Adani Ports, Yes Bank, IndusInd Bank, SBI, and L&T were the top gainers. On the flip side, Dr. Reddy’s, Vedanta, Hindalco, Wipro, and ITC were in the basket of losers, after declining marginally by ~0.5%, each.
All sectoral index, all sectoral indices on the NSE were trading in the green with the Nifty PSU Bank gaining 6% followed by Nifty Bank and Realty indices, which were up 3% each.
Notably, the volatility index, India VIX dropped 27.54% at 20.02 points.
Market breadth is positive on the NSE with 1220 shares advancing, 418 shares declining, and 455 remaining unchanged.
On the currency front, the Indian rupee appreciated 29 paise on Thursday to trade at intraday’s high level of 69.60 against the dollar.