Dec 18, 2017 10:24:00 (IST)
Gujarat Election Results 2017: In Wild Swing, Sensex Recovers After Slumping 850 Points
The Sensex nosedived over 850 points in the early trade today as early leads indicated a close fight between BJP and Congress in Gujarat. The Sensex fell to 32,595 at day's low while Nifty slumped to 10,074. But the Sensex later recovered as the BJP pulled ahead of the Congress. Analysts say that the market had factored in a comfortable win for the BJP in Gujarat polls.
The Sensex nosedived over 850 points in the early trade today as early leads indicated a close fight between BJP and Congress in Gujarat. The Sensex fell to 32,595 at day's low while Nifty slumped to 10,074. But the Sensex later recovered as the BJP pulled ahead of the Congress. Analysts say that the market had factored in a comfortable win for the BJP in Gujarat polls.
On the day of the Gujarat Election results, here are the latest updates from the markets this morning:
- At 9:45 am, the Sensex had pared most of the losses and was down just 74 points. The Nifty was off 16 points at 10,316.
- Banking stocks which led the initial slump in the index recovered most of the losses. The banking index on BSE was trading 0.14 per cent lower after slumping over 2 per cent at day's low.
- Adani group stocks fell sharply in early trade today but pared most of the losses in later trade.
- HCL Tech, BPCL, HPCL, UPL and UltraTech Cement were among the top losers, down around 1.5 per cent. Among the gainers, Vedanta, Cipla, Adani Ports and GAIL India were up 1-2 per cent.