Markets trade flat as investors turn cautious ahead of exit polls, election results

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Markets trade flat as investors turn cautious ahead of exit polls, results
Markets were trading flat as investors turned cautious ahead of the exit polls on May 10 and election results on May 16.

The Sensex was trading with gains of 30 points, while the Nifty gained 8 points in trade. Among the early Nifty gainers in trade were HDFC, HDFC Bank, Wipro and IDFC.

Shares in Jet Airways gained after market regulator SEBI said that Etihad need not make an open offer for Jet shareholders pursuant to the Rs 2,060 crore stake deal between them.

Nifty stocks that were trading with losses included Jindal Steel, Ultratech Cement and ITC.

Zuario Agro rallied after a super set of results from the company. The stock was up 5 per cent in trade.

Mid cap stocks also saw some buying interest with notable gainers being Union Bank, IFCI, Oriental Bank and Unitech.

Shares in Claris Lifescience was up 2 per cent after the company's buyback window opened today. Banking stocks were also having a good day in trade with notable winners being Yes Bank, HDFC Bank and Canara Bank.

The realty index was absolutely flat in line with the broad markets. Sobha Developers and Unitech lost ground, while Godrej and DLF gained.

Shares in Andhra Bank were trading lower by one per cent ahead of its results to be declared later today.

Meanwhile, markets across Asia were trading with gains, though the Indian markets are likely to decouple themselves from global markets, given the election results.

The Hong Kong's Hang Sang and the Japanese Nikkei were both higher in trade.

Read more about: sensex, nifty
Story first published: Friday, May 9, 2014, 9:37 [IST]
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