BSE Sensex hits one-month high as assembly exit polls see Narendra Modi ahead
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BSE Sensex rose over 1 percent on Thursday to mark its highest close in a month, as shares of blue chips, including lenders surged after assembly exit polls predicted a strong showing for the key opposition party, the Bharatiya Janata Party (BJP) in state elections held recently and took these as heralding the rise of Narendra Modi to the post of PM.
However, BSE Sensex closed below 21,000-mark as profit booking curbed the rise to about 250 points.
Banking, capital goods and PSU shares were the leaders as nine 9 of the 13 sectoral indices on the BSE rose. However, healthcare, FMCG and IT shares fell.
The Sensex, which lost 189.30 points in the previous two sessions, shot up to day's high of 21,165.60 before ending at 20,957.81 -- a gain of 249.10 points, or 1.20 per cent.
Today was the first day in a month the index breached the 21,000-level after hitting 21,142.85 intra-day on November 7.
Shares of ICICI Bank shot up 6.66 per cent, followed by HDFC Bank (4.52 per cent), L&T (4.49 per cent). These three stocks accounted for over 210-point surge in the 30-share Sensex where 20 constituents ended in the green. ITC Ltd, Sun Pharmaceuticals Industries, Dr Reddy's Laboratories and Tata Consultancy Services (TCS) were among the 10 that ended lower.
The NSE Nifty index, which breached the 6,300 level intra-day, ended 80.15 points, or 1.3 per cent, up at 6241.10.
Brokers said a flurry of buying triggered by exit poll results predicting a good show by the main Opposition party in Rajasthan, Madhya Pradesh, Chhattisgarh and Delhi elections, buoyed the trading sentiment.