Sensex up 117 points on value-buying ahead of Gujarat exit polls

Published On: 14, Dec 2017 | Source: Hindustantimes

The Sensex opened in the green by jumping 117 points on Thursday on value-buying in blue- chips ahead of exit poll results for Gujarat elections.

Asian stocks moved sideways. The NSE Nifty went above 10,200-mark.

The 30-share BSE index was up 116.70 points, or 0.35%, at 33,169.74. The Sensex had lost 402.75 in the previous two sessions disappointed by grim economic data and the ADB lowering India’s economic growth forecast.

Also, the NSE Nifty rose 37.70 points, or 0.36%, to 10,230.65.

Analysts said optimistic buying by participants ahead of exit poll results for the assembly election of Gujarat later in the day had a bearing on mood.

In her final act as the Fed chair, Janet Yellen moved to hike rates to a range of 1.25% to 1.5%, citing solid US job growth and household spending. The central bank kept its policy outlook on additional increases for 2018 and 2019 unchanged.

Prominent gainers were Dr Reddy’s, ONGC, Wipro, Bharti Airtel, Infosys, Heromoto Corp and Lupin, rising up to 0.86%.

All sectoral indices, including realty, consumer durables, oil and gas and metal stocks traded positive, with gains of up to 0.85%.

Investors took their cue from another Wall Street record after an upbeat assessment of the US economy by the Federal Reserve.

Hong Kong’s Hang Seng was up by 0.29% while Japan’s Nikkei fell 0.14% and Shanghai Composite shed 0.20 per cent in early trade Thursday.

The US Dow Jones Industrial Average ended 0.33% higher Wednesday.