If Narendra Modi were to become Prime Minister, than infrastructure, banking and commodity stocks would likely lead the rally was very clear. That is exactly what happened in trade today. Here are 6 Sensex stocks that led gainers in trade, which were all from the banking, infra and commodity space.
Sesa Sterlite gained a staggering 12 per cent in trade today. Such gains can happen only on an election day, or announcement of quarterly results. Clearly markets believe that Sesa Sterlite, a metal and mining major will gain from economic development under Narendra Modi.
ICICI Bank has had a phenomenal run and has gained almost 50 per cent in the last few months. The stock was up 7 per cent in trade today. Hopes are that economic revival under Modi would boost prospects for the bank fuelled the rally.
Axis Bank joined ICICI Bank as the top gainer with a sharp rise of 8 per cent. Again, hopes of economic revival and better credit growth pushing Axis Bank higher.
Alleged links between Robert Vadra and DLF, have affected sentiments for the stock. However, DLF has once again gained momentum. Investors have for long worried that the NDA government could order some investigations into the land deals. Despite this the stock was up in trade.
State Bank of India
Today's gains were largely in banking stocks and State Bank of India like others joined the rally. The stock ended the day more than 6 per cent higher.
Bharat Heavy Electricals
Bharat Heavy Electricals (BHEL) gained on hopes that the new government would push through the reforms process, which could benefit the power sector. BHEL is a major player in the power sector.