Markets Recover As BJP Set To Form Government In Gujarat

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It has been an extremely volatile session for the markets with the Sensex, which was down 700 points in early morning trade, after the Congress surged ahead in the Gujarat elections, bounced back 300 points, after BJP regained the momentum and was set to form the government in Gujarat.

Markets Recover As BJP Set To Form Government In Gujarat
Early trend when markets opened showed that the Congress was winning Gujarat. However, the leads shifted to the BJP which resulted in some pull back in the markets. 

The Sensex was last seen trading 287 points higher, while the Nifty was up 86 points though marketmen expect the indices to remain volatile though the day.

The 10 year bond yield saw a sharp spike, while the rupee was under some pressure at Rs 64.50 to the dollar. Check currency rates here

Leading the set of gainers in trade were some of the banking stocks like ICICI Bank and State Bank of India. The Gujarat based Adani Ports was the major loser with a drop of three per cent.

Yes Bank and IndusInd Bank, which were added to the Sensex from today also gained ground. On the other hand Cipla, which was replaced from the BSE Benchmark index saw small gains.

Tech stocks were weak despite a sharp recovery in the markets. TCS, HCL Tech and Tech Mahindra were the big gainers.

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Read more about: sensex, nifty
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