Mumbai. Encouraged by the possibility of Prime Minister Narendra Modi heading the next government at the Centre, the domestic stock market closed with gains for the second consecutive day. On Thursday, both the benchmark indices Sensex and Nifty managed to gain 692 points and 201 points respectively. BSE’s benchmark index Sensex regained the 75,000 level and closed at 75,074.51 points, jumping 692.27 points or 0.93 percent. During trading, at one point it rose by 915.49 points to reach 75,297.73.
The National Stock Exchange (NSE) index Nifty also closed at 22,821.40 points, up 201.05 points or 0.89 percent. During trading, it rose 289.8 points or 1.28 percent to reach 22,910.15 points. Among the companies included in the Sensex group, Tech Mahindra, HCL Technologies, State Bank of India, NTPC, Infosys, Larsen & Toubro, Tata Consultancy Services and Wipro registered the highest gains. On the other hand, shares of Hindustan Unilever, Asian Paints, Mahindra & Mahindra, Nestle, IndusInd Bank and Sun Pharma declined. However, the BJP has not got a clear majority on its own in the recently concluded parliamentary elections.
But along with its allies, BJP has enough majority to form the government and Prime Minister Modi has started his efforts to form the government at the center for the third consecutive time. In other Asian markets, Japan’s Nikkei and Hong Kong’s Hangseng closed with gains while China’s Shanghai Composite closed with a decline. Most of the European markets were trading with gains. American markets closed in the positive zone on Wednesday.
Global oil benchmark Brent crude rose 0.09 percent to $ 78.43 per barrel. According to stock market data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 5,656.26 crore on Wednesday. Recovering from the heavy fall on the day of election results, the Sensex jumped 2,303.19 points to 74,382.24 on Wednesday and the Nifty rose 735.85 points to 22,620.35.
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