Sensex up by 400 points

The upward momentum in the benchmark indices continued for the second day on Tuesday after the Election Commission declared that Lok Sabha Elections 2019 will be held from April 11 through May 19. The market seems to be factoring in a stable government formed by a leading political party which is fuelling this upsurge.

At 10:39 hours, the BSE Sensex was at 37,468.42, up by 414.32 points or 1.12 per cent, while Nifty50 11,290.05, up by 122.00 points or 1.09 per cent. The most traded index Bank Nifty was quoting 28,324.80, up by 358.15 points or 1.28 per cent on Tuesday.

Sectorially, Realty was leading the uptick, followed by banks, pharma, metal indices that were up more than a per cent. On Tuesday all sectoral indices were trading in the green.

Mid-cap and small-cap stock all were gaining with the Nifty Midcap 100 up by 1.03 per cent and Nifty Small cap 100 up by 1.39 per cent

On BSE Sensex, the top gainers were L&T, Power Grid, ICICI Bank, Axis Bank, Asian Paint, Vedanta, whereas only Infosys and Hero Moto, ONGC, Bajaj-Auto were trading in the red. On Nifty50, HPCL and Hindalco were also top gainers and Infratel and Eicher Motor were also among top losers.

Among the movers of the Sensex was Reliance which was the top contributor with 82.73 points upmove, followed by ICICI Bank contributing 72.04 points; L&T 59.54 points, HDFC Bank 42.08, AXIS Bank 25.71 and HDFC 23.86.