India’s benchmark indices rose on Friday on cues from strong Asian markets and as traders hoped for a victory for the Bharatiya Janata Party in the Gujarat Assembly elections. The first phase of voting is on Saturday. The market participants mostly want the BJP to win, which would further cement the party’s stronghold over Indian politics, Reuters reported.
The BSE Sensex rose 301.09 points to finish at 33,250.30, and the NSE Nifty50 closed 98.95 points higher at 10,265.65.
The top gainers on the Sensex were ITC, ONGC, Tata Motors, Sun Pharma and Tata Motors DVR. The stocks that gained the most on the Nifty were HPCL, ITC, Indian Oil Corp, BPCL and Hindustan Unilever.
The top losing stocks on the Sensex were Hero Motocorp, State Bank of India, Reliance Industries, Tata Consultancy Services and Asian Paints. The five biggest losers on the Nifty were Bharti Infratel, GAIL, Zee Entertainment, Reliance Industries and State Bank of India.
Among major Asian markets, Japan’s Nikkei 225 and the Hong Kong Hang Seng rose by 1.19% and 1.39%, respectively, while the Shanghai and Taiwan indices made modest gains on Friday.
The Indian rupee rose nine paise against the United States dollar to trade at 64.47 at 3.50 pm.