Market cheers as India votes for BJP

As the news that BJP will continue to remain in power seeps in market pared its gains in the afternoon session. In the morning half, market was extremely bullish as BJP's seat count crossed the halfway mark in leading trends. The top contributors to the index gains were ICICI Bank, IndusInd Bank, LT contributing between 60 to 40 points, while Reliance was just supporting contributing 20 points. On the other hand, HDFC Bank was dragging the market by 121 points, followed by ITC negative 77 points.

The market sentiment have the potential to fuel a 10 per cent index gain over the course of the next 10 months.

In Thursday's post-lunch session, the BSE Sensex dipped to the red zone at 39,064.81, down by 45.40 point or 0.12 per cent, while Nifty50 was at 11,725.80, up by 12.10 points or 0.10 per cent. 

Now it is likely that BJP will cross the 300 seat mark and along with its allies it is expected to reach 324 seats, whereas the next biggest party Congress is leading in 49 seats and along with its allies is expected to reach 87 seats.

Below is the table with the latest trends data from the Election Commission:

Among the top gainers on Sensex were IndusInd Bank up by 5.33 per cent, followed by HeroMoto, Yes Bank, Coal India, Power Grid, and ICICI bank up by more than 1 per cent each. and Kotak BAnk up by more than 3 per cent each. Among the loser were Vedanta down by 5.08 per cent and ITC down by 3.64 per cent, HDFC Bank down 3.16 per cen, followed by Tata Motors, TCS and Bajaj Finance down by more than 1 per cent each.