It is a massive rally in opening as intraday market opens at
life high. Sensex opens with a gain of 1000 points. The Sensex is up 646.62
points or 2.70 percent at 24552.22, and the Nifty is up 296.45 points or 4.16
percent at 7419.60. About 514 shares have advanced, 86 shares declined, and 20
shares are unchanged. In pre-opening trade, the Nifty has hit 7200 as the D-day
to the most hotly contested elections is here.
Indian stocks may see high intraday volatility today, 16 May
2014, as trends and actual results of wins by candidates/parties are announced during
the process of counting of votes for the recently concluded Lok Sabha
elections.SBI, HDFC Bank, BHEL, Axis Bank and L&T stocks are major gainers
in the Sensex, up 4-9 percent each. Only Dr Reddy's Labs is a laggard in the
Sensex, losing 1 percent.
The Indian rupee opened sharply higher on the election results day. It is trading at 59.92 against 59.29 Thursday.China's Shanghai Composite was flat at 2,025.53. Hong Kong's Hang Seng slipped 0.56 percent or 127.47 points at 22,603.39. Japan's Nikkei shed 1.53 percent or 218.76 points at 14,079.45. Singapore's Straits Times was flat at 3,269.87.
The Indian rupee opened sharply higher on the election results day. It is trading at 59.92 against 59.29 Thursday.China's Shanghai Composite was flat at 2,025.53. Hong Kong's Hang Seng slipped 0.56 percent or 127.47 points at 22,603.39. Japan's Nikkei shed 1.53 percent or 218.76 points at 14,079.45. Singapore's Straits Times was flat at 3,269.87.
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