Market eyes on election results of five states, Sensex jumps 1200 points, Nifty also rises

On Thursday, amidst the process of election results in five states of the country, the Sensex also came to a halt and both the indices opened on the green mark with tremendous gains. The 30-share Sensex of the Bombay Stock Exchange opened with a jump of 1200 points, while the Nifty index of the National Stock Exchange also started trading with a jump of 300 points.

Sensex had climbed 1223 points on Wednesday

It is worth noting that the stock market closed with gains on the last trading day on Wednesday. The BSE Sensex closed at 54,647, up by 1223 points at the end of trading, while the Nifty closed at 16,325 with a jump of 332 points. Today Auto, Bank, Realty, PSU Bank index along with all sectoral indices are trading in the green with a gain of 2 to 3 per cent. On the other hand, BSE Midcap and Smallcap indices have gained 1-1 per cent each.

All Sensex stocks are up

All 30 stocks of Sensex are trading in gains. Meanwhile, the biggest rally is being seen in banking stocks. Asian Paints, Hindustan Unilever and Axis Bank are the top gainers among the 30 stocks and they have all gained 4 per cent. Apart from this, shares of SBI, ICICI Bank, IndusInd Bank, Bajaj Finance, Bajaj Finserv, Maruti and HDFC rose 3-3 per cent. In contrast, UltraTech, Mahindra & Mahindra, HDFC Bank, Larsen & Toubro, Titan, Kotak Bank are also trading in gains of up to 3 percent.

Impact of fall in crude oil

On the one hand, the results of the elections held in five states of the country are going to come today and its effect is visible on the domestic market, while on the other hand, the impact of the big fall in the international crude oil prices has also affected the sentiments of the investors. Oil prices fell by up to 17 percent and Brent crude fell below the level of $113 a barrel amid reports that the UAE is in favor of increasing oil production to control prices. Let us tell you that this week Brent crude reached its peak of 14 years after 2008, near the level of $ 139 per barrel.