Sensex jumps 817 points, Nifty settles near 16,600 as BJP looks certain to win four states

Sensex jumps 817 points, Nifty settles near 16,600 as BJP looks certain to win
four states

The topline indices rose 1.5 percent on Thursday, reflecting gains from global markets that rallied after a temporary decrease in oil prices, as well as the outcome of Assembly Elections in five crucial states. The Bharatiya Janata Party (BJP) is expected to retain control in Uttar Pradesh, Uttarakhand, Manipur, and Goa, while the Aam Aadmi Party (AAP) is expected to become the government for the first time in Punjab.

The S&P BSE Sensex gained 817.06 points (1.53%) to close at 55,464.39, while the Nifty 50 gained 249.55 points (1.53%) to close at 16,594.90. Both indices had begun around 2% higher earlier in the day and continued to rise during the morning trades, with the BSE benchmark reaching an intraday high of 56,242.47 and the broader Nifty touching 16,757.30.

However, as the transaction advanced, they surrendered part of their gains in the afternoon trading session. Hindustan Unilever (HUL) was the highest gainer on the Sensex pack, surging more than 5% on Thursday. Tata Steel, State Bank of India (SBI), IndusInd Bank, Axis Bank, Bajaj Finserv, Nestle India, Maruti Suzuki India, Larsen & Toubro (L&T), and Housing Development Finance Corporation were the companies that came after it (HDFC).

Tech Mahindra, Dr. Reddy's Laboratories, and Tata Consultancy Services (TCS) all lost money.