Indian benchmark indices regain their upward trend in the afternoon after a jittery start in the morning
Mumbai, Dec 18 (IBNS): The Indian market has recovered from its initial surprise on Monday morning and is indicating a rising trend with the steady pouring in of results showing the Bharatiya Janata Party (BJP) poised for a comfortable win in Gujarat and likely to win in Himachal Pradesh too, according to media reports.
During the early hours of trade, the Indian benchmark indices slumped with indications of Congress almost in a position to challenge BJP's winning streak, media reported.
Around 9.15 am, the BSE Sensex was down 98 points at 33,365 points and NSE Nifty was 70 points down at 10,263, reports said.
The rupee plunged 68 paise to 64.72 against the dollar on Monday after early trend suggested that the BJP and the Congress are neck and neck in Gujarat Assembly sweepstakes after one hour of counting of votes, reported NDTV.
But as the day progressed and the BJP began to consolidate its leading position, the market began to climb up too.
Around 1.30pm, reports said that the BSE Sensex was up 214.02 points at 33,676.99 and the NSE Nifty up 72.20 points at 10,405.50.
According to reports, Adani Enterprises hit a 52-week high on NSE on Monday afternoon.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
