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Stock markets upbeat after BJP's likely victory in Karnataka

Written by PaperDabba
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Representative Image.

Photo:PTI IMAGE

Expectations of a BJP victory in Karnataka assembly election lifted the key Indian equity indices during the morning trade session on Tuesday.

According to market observers, broadly subdued Asian indices, and disappointing macro-economic inflation data points released on Monday capped gains.

Sector-wise, healthy buying was witnessed in banking, capital goods, metals, consumer durables and oil and gas stocks.

Around 9.30 a.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,865.70 points — up 59.10 points or 0.55 per cent — from its previous close.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 35,537.85 points, traded at 35,776.07 points — up 219.36 points or 0.62 per cent — from its previous session’s close of 35,556.71 points.

Sensex has so far touched a high of 35,817.65 points and a low of 35,498.83 points during the intra-day trade.

On May 14, — the previous trade session — both the key indices closed on a flat-to-positive note as caution prevailed ahead of the Karnataka Assembly election results and a rise in the April wholesale inflation rate.

Consequently, the NSE Nifty50 closed flat at 10,806.60 points.

Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE had made gains. It closed at 35,556.71 points — up 20.92 points or 0.06 per cent — from its previous day’s close.

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