Exit Polls Pull Markets Higher; Sensex Jumps Over 800 Points

Mon, 20 May 09:30 am

   Previous Close   

   Pre-Open   

   12:30 pm   

   Closing   

Asian share markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.4% while the Hang Seng is down 0.3%. The Nikkei 225 is trading up by 0.3%. Wall Street ended lower on Friday as continuing trade tensions pulled industrial and tech shares down, and the Dow capped a fourth straight week of losses in its longest weekly losing streak in three years.

Back home, India share markets jumped in the opening session after exit polls showed BJP-led NDA getting a comfortable majority in Lok Sabha elections. The BSE Sensex is trading up by 808 points while the NSE Nifty is trading up by 263 points. The BSE Mid Cap index and BSE Small Cap index opened up by 1.8% and 1.1% respectively.

All sectoral indices have opened the day on a strong note with oil & gas sector, capital goods sector, automobiles sector gained over 3%.

Yes Bank, M&M, IndusInd Bank, L&T, Bajaj Finance, Adani Enetrprises, HPCL, BPCL, Tata Motors, ICICI Bank, HDFC Bank are among major gainers on the indices, while losers include Jubilant Life.

The rupee is currently trading at 70.28 against the US$.

With the exit polls out and final results approaching, what can market participants look forward to?

Note that stock markets have remained volatile in the pre-election period.

It has certainly turned out that way again.

Good Times Ahead for Indian Stock Markets?

History of the past few elections paints a rosy picture.

Despite governments changing hands in 2004 and 2014, the Sensex gave returns of 44% and 13% in a year respectively.

Even in 2009, when the same government retained power, Sensex was up by 18% in a year.

So, do you think there are good times ahead for Indian stock markets? We will keep you updated on the developments.

Meanwhile, look out for the stocks that will rise fast when the tide of the market turns up.

In the news from the economy. The country's foreign exchange reserves rose by US$ 1.4 billion to reach US$ 420 billion in the week to May 10 on account of a rise in foreign currency assets, RBI data showed.

In the previous week, the reserves had increased by US$ 171.9 million to US$ 418.7 billion.

In the reporting week, foreign currency assets, which are a major component of the overall reserves, swelled by US$ 1.4 billion to US$ 392.2 billion.

Expressed in dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US units like the euro, pound and the yen held in the reserves.

Gold reserves remained unchanged at US$ 23 billion, according to the data.

The special drawing rights with the International Monetary Fund rose by US$ 3 million to US$ 1.5 billion.

The country's reserve position with the Fund also increased by US$ 7 million to US$ 3.4 billion, the according to the RBI data.

The forex kitty had touched a life-time high of US$ 426 billion in the week to 13 April 2018.

Moving on to the news from pharma sector. As per an article in a leading financial daily, the USFDA conducted an inspection at Alkem Laboratories' manufacturing facility situated at Baddi, Himachal Pradesh from 13 to 17 May 2019.

The United States Food and Drug Administration (USFDA) post the inspection stated that the company has received a Form 483 with four observations.

The company is now expected to put a detailed response with acceptable corrective and preventive measures to address the USFDA observations.

Meanwhile, Cipla informed that inspection conducted by the USFDA at the company's Indore facility ended with zero observation.

USFDA conducted a post-approval inspection at the company's Indore facility from May 13 to May 17.

Alkem Laboratories share price and Cipla share price opened the day up by 1.6% and 0.% respectively.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers