Sensex Trades Higher Despite AAP Victory in Delhi

Benchmark indices fell sharply initially in trade as the AAP victory in Delhi worried investors, but recovered sharply on short covering.

Indices

The Sensex was trading sharply higher by 122 points, while the Nifty gained 36 points in trade. Banking shares saw some recovery in trade with stocks like Axis Bank, State Bank of India, Hindalco and Tata Steel among the gainers.

Reliance Infrastructure was down on worries that there would be an audit of power distribution comoanies in Delhi. Larsen and Toubro continued to drift lower after results largely disappointed the market.

Mid cap stocks also saw some buying interest with Voltas and Unitech among the winners. Shares in State Bank of India were trading higher ahead of its results.

DLF was trading sharply lower after the company reported very sluggish results. Banking stocks were trading higher ahead of results to be declared later today. Hexaware Technologies shares were trading lower as consolidated PAT was down.

Meanwhile, Asian markets were trading marginally higher with the Shanghai Composite and the Strait times Trading higher.

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Story first published: Tuesday, February 10, 2015, 9:32 [IST]

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