Kumar Bahukhandi
Mumbai: The possibility of Bharatiya Janata Party (BJP) getting a clear majority in the Haryana assembly elections boosted the stock market on Tuesday October 8 . At the end of trading, the Sensex was at 81,634 with a gain of 584 points or 0.72 percent and the Nifty was at 25,013 with a gain of 217 points or 0.88 percent. The market trend was positive throughout the trading session. On the BSE, 3,020 stocks closed in the green, 924 stocks in the red and 101 stocks closed unchanged. Due to the rise, the market cap of all the companies listed on the Bombay Stock Exchange (BSE) increased by about Rs 7 lakh crore to Rs 459 lakh crore, which was Rs 452 lakh crore earlier.
M&M, Reliance, HDFC Bank, L&T, SBI, NTPC, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Asian Paints, HCL Tech, Infosys and ICICI Bank were the top gainers in the Sensex pack. Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Tata Motors, Wipro, HUL and ITC were the top losers. Midcaps and smallcaps were higher than largecaps. The Nifty Midcap 100 index was up 1,235 points or 2.16 per cent at 58,535 and the Nifty Smallcap 100 index was up 374 points or 2.05 per cent at 18,617. Auto, IT, PSU Bank, Fin Service, Pharma, FMCG, Realty, Energy and Infra indexes saw the most buying in the Nifty. Only the Metal index closed in the red.
Vaibhav Vidwani, Research Analyst at Bonanza, said that the market has closed positive due to the election results. The biggest rise was seen in PSU stocks. However, due to quarterly results and the Reserve Bank of India’s MPC, the market is expected to remain in a limited range in the short term. The stock market opened flat. At 9:41 am, the Sensex was up 7 points at 81,057 and the Nifty was down 19 points or 0.08 percent at 24,766.
