Sensex jumps 216 points as exit polls drive sentiments high

On a closing basis, the wider Nifty50 of the National Stock Exchange (NSE) rose by 81.15 points or 0.79 per cent to 10,333.25 points.

Analysts said optimistic buying by participants ahead of exit poll results for the assembly election of Gujarat later in the day had a bearing on mood.

Both indices wiped off some of their gains after hitting their highest level in early trade.

However, the BSE market breadth was bearish - 1,572 declines and 1,049 advances.

The equity markets on Friday despite heavy selling in the last hour of trading, managed to close with solid gains.

On the currency front, the Indian rupee strengthened by 30 paise to close at 64.04 against the U.S. dollar from its previous close at 64.34. Meanwhile, foreign portfolio investors (FPIs) net bought shares worth Rs 232.17 crore yesterday.

"Exit polls predictions stating absolute majority for the ruling party in Gujarat and Himachal elections pushed stocks and indices to a higher opening, but the rally stalled thereafter as investors opted to wait for the results next week".

In volume terms, 12.07 lakh shares of the company were traded on BSE and over 68 lakh shares changed hands on NSE during the morning trade. HDFC, Bajaj Auto, Adani Ports and L&T too advanced.


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