Live Sensex and Nifty coverage: Sensex, Nifty end higher as BJP wins

Live Sensex and Nifty coverage: Sensex, Nifty end higher as BJP wins Himachal and Gujarat

Last Updated: Mon, Dec 18, 2017 18:23 hrs

Today: Petrol Price | Diesel Price

Sify Editors@ 3:45 PM

Sensex, Nifty end higher as BJP wins Himachal and Gujarat

Indian shares reversed earlier losses to end higher on Monday as Prime Minister Narendra Modi's party won elections in his home state of Gujarat for a sixth term.

The BSE Sensex rose 0.41 percent to 33601.68, while the broader NSE Nifty ended 0.54 percent higher at 10388.75. Both indexes were led by gains in financial stocks.

The indexes dropped as much as 2.5 percent each in early trading as initial counting showed a close fight between the ruling Bharatiya Janata Party and the main opposition Congress party. They, however, rallied when it became clear that the BJP was returning to power though with a reduced number of seats.

Sify Editors@ 2:25 PM
BSE telecom index edges higher; Airtel, HFCL top gainers

The S&P BSE telecom index zoomed higher on Monday -- after taking a plunge of over 3 per cent during opening trade -- driven by telecom stocks like Bharti Airtel and manufacturers of telecommunication equipment and optical fibre cables like Himachal Futuristic Communications (HFCL).

The telecom index took to an upward rally as counting trends indicated a victory for the BJP in both the Gujarat and Himachal Pradesh Assembly elections.

At 1.15 p.m., the index rose by 1.53 per cent, riding on the certainty that the ruling BJP was set to retain power in Gujarat. In Himachal Pradesh, the BJP was set to wrest power from the Congress.

Stocks of Bharti Airtel, Reliance Communications and Idea Cellular -- which initially plunged almost 6 per cent following an early beating taken by the key BSE Sensex index -- traded higher during the mid-afternoon session.

Telecom giant Bharti Airtel, which dipped to a low of Rs 485 per share -- down 6.54 per cent from its previous close -- during initial trade, rose by 1.96 per cent to trade at Rs 529 per scrip.

Other telecom players which showed an upward trend were Idea Cellular (up 1.70 per cent at Rs 95.55 per share), Reliance Communications (up 0.17 per cent at Rs 11.8), and Tata Communications (up 0.14 per cent at Rs 688.45).

Sify Editors@ 12:25 PM
Shares of Indian logistics provider Future Supply Chain Solution Ltd rose as much 4.8 percent on their market debut after the company's Rs 650-crore initial public offering.

The shares are currently up 3.14% at Rs 684.90 (up Rs 20.90 from its listing price).

Sify Editors@ 10:30 AM
Emkay Securities has this to say: The pattern analysis of Nifty shows that it gave a falling channel breakout, which implies that the bull move can continue. Next resistance, which is going to be faced by Nifty is 10410, above which it can surge up to 10500 level. Above this, it can inch further higher. Immediate support is seen at 10330 level, below which it can witness profit booking up to 10260 level and 10200 level.

Resistance: 10330/ 10250

Support: 10410/10500

Sify Editors@ 9:58 AM
The markets at least have called the elections.
The Sensex has gained over 150 points at 10.07 am. The Nifty 50 is up by over 55 points.

Sify Editors@ 9:58 AM
Sensex 0.15 percent up at 9.58 am with 17 components in the green, reports Reuters.

Sify Editors@ 9:55 AM
BSE, after tanking almost 800 points in an early-morning frenzy triggered by the Congress drawing almost level with the BJP, is now almost flat at 33450.95. NSE is down 11.75 at 10321.50.

Sify Editors@ 9:30 AM
BSE realty index plunges 3.5 percent in morning trade.

Sify Editors@ 9:22 AM
BSE metals, PSU, bankex, IPO indices decline steeply at 9.22 am with a loss of over 2 percent each, reports Reuters. The rupee too has dropped sharply in early session, trades at 64.62 per dollar against the last close of 64.04.

Sify Editors @ 9:20 AM
The BJP and the Congress being involved in a closer-than-expected fight in Prime Minister Narendra Modi's home state of Gujarat has spooked markets, who possibly are seeing it as a mandate for the BJP government at the centre too. Currently, the Sensex is down over 656 points, while the NSE is down over 200 points.

More from Sify: