INSUBCONTINENT EXCLUSIVE:
MUMBAI: Stock indices surged over 1% on Friday as traders squared off bearish bets ahead of exit polls on Sunday evening after the end of
the final phase of polling
The direction of the market early next week will be decided by these exit poll projections and the declaration of final results on May
23.
The Sensex surged 537.29 points, or 1.4%, to close at 37,930.77 and Nifty climbed 150 points, or 1.3%, ending at11,407.15
People may not want to carry position forward before the event
winning 300-plus seats, market will open 1-1.5% higher
Wednesday on account of the US-China trade tensions, managed to eke out gains of over 1% for the week thanks to the rebound in last two days
In May so far, both are down nearly 3%
Foreign portfolio investors continued their selling spree and sold into this rally
FPIs offloaded Indian stocks worth 1,057.82 crore on Friday as per provisional data, taking their net sales so far in May to 4,900
crore.
DII Purchases in May: Rs 8.8k croreDII flows on Friday stood at Rs 1,800 crore
6.1% to close at Rs 3,301.20, becoming the top gainer on the Sensex after reporting strong fourth quarter results
Suzuki India, Kotak Mahindra Bank, Bajaj Auto and Hindustan Unilever ended up 3-4%
Most sector indices on the NSE ended in the green, up 1-3%
The pharma index, however, slid 1.5%
opinion polls point to a hung Parliament, with the BJP as the single largest party
Indian markets rallied 10% from February lows till April 18, when it hit record highs on expectation that the current government will return
have retreated on global headwinds such as rising oil prices and escalating trade tensions between US and China
ING Bank NV.
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