Sensex, Nifty rally as NDA marches ahead

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Sensex, Nifty rally as NDA marches ahead
The Sensex and the Nifty powered ahead in trade today as early leads indicated a clear majority for the Narendra Modi led BJP, setting the stage for the NDA to form the next government.

The Sensex surged a staggering 1000 points, to hit a new record of 24,928 points, while the Nifty was trading a huge 360 points higher.

Shares of Adani group companies powered ahead with Adani Power gaining 4 per cent, Adani Enterprises gained 4 per cent and Adani Port gained 6 per cent.

Banking stocks rallied in trade with ICICI Bank, IndusInd Bank, Yes Bank , HDFC Bank, State Bank of India rallying 4-8 per cent in trade.

All of the Nifty stocks were trading higher, though IT stocks were subdued in trade.

Mid cap stocks also saw a phenomenal rally with notable gainers being Karnataka Bank, Voltas, Jain irrigation and Unitech.

It was difficult to find losers in trade as most of the mid cap and Nifty, Sensex stocks were trading higher.

Infrastructure and construction stocks were on fire with notable winners being Gammon Infra, NCC, Larsen and Toubro.

Read more about: sensex, nifty
Story first published: Friday, May 16, 2014, 8:15 [IST]
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