Gujarat election result oscillates markets
DSIJ Intelligence / 18 Dec 2017
Indian stock markets saw very steep fall in the opening session as early indications from the Gujarat assembly election results showed a tight fight between the two political heavyweights, BJP and Congress, on Monday.
Indian stock markets saw very steep fall in the opening session on Monday as early indications from the Gujarat assembly election results showed a tight fight between the two political heavyweights, BJP and Congress.
Towards the end of the pre-opening session, the market started slipping into the red zone. BSE Sensex recorded an intraday low of 32595.63, which was a dip of 867.34 points. However, the market improved as the ruling Bharatiya Janta Party (BJP) reaffirmed its position in the Gujarat state politics with results showing that the party will gain a clear majority.
At 11:00 hours, BJP had won 99 seats, whereas Congress had won 71, others were at 6 in 176 constituencies, out of the total 182 constituencies that went to poll. Meanwhile, BSE Sensex was at 33,721.81 points, higher by 258.84 points or 0.77 per cent, Nifty50 was trading at 10,413.50, points, up 80.25 points or 0.78 per cent.
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