The domestic market Sensex and Nifty started on an optimistic note on Wednesday after facing a massive fall in the previous session. Making a strong comeback after Tuesday’s massive fall, the 30-share BSE Sensex rose 948.83 points to 73,027.88 points in early trade.
At the same time, the NSE Nifty rose 247.1 points to 22,131.60 points. The markets fell sharply on Tuesday after the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) got a lesser majority than expected in the general election results.
Among the 30 companies listed on the Sensex, shares of Hindustan Unilever, Nestle, Asian Paints, HCL Technologies, HDFC Bank, Kotak Mahindra Bank and ITC rose the most.
Shares of Larsen & Toubro, Power Grid, NTPC and State Bank of India suffered losses. In Asian markets, South Korea’s Kospi and China’s Shanghai Composite were in profit while Hong Kong’s Hang Seng and Japan’s Nikkei were in loss.
US markets closed on a positive note on Tuesday. Global oil benchmark Brent crude futures was trading 0.04 per cent lower at USD 77.49 per barrel.
According to stock market data, foreign institutional investors (FIIs) remained sellers in the capital market on Tuesday and sold shares worth a net Rs 12,436.22 crore.
The Election Commission of India has declared the results of 543 Lok Sabha constituencies in the country. In this, the Bharatiya Janata Party (BJP) has won 240 seats and the Congress has won 99 seats. The BJP-led National Democratic Alliance has got a majority in the Lok Sabha and Prime Minister Narendra Modi is set to form the government for the third consecutive time.
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