Sensex up 300 points as a response to BJP's victory
Business

Sensex soars 600 points; Nifty reclaims 10,400 

The benchmark index of Bombay Stock Exchange (BSE) has soared over 600 points to 34615 points during morning trade on Friday.

The NSE Nifty reclaimed the 10,400-level and hit an intra-day high of 10,419.50 points, jumping over 200 points. The sectoral indices auto, realty, banks, and metal pushed the sensex up, trader informed.

The rise in the maket owed to the gain in the rupee against the US dollar on Friday, which marked 40 paise up to an intra-day high of 73.71/$.

The second-quarter results of Hindustan Unilever, Karnataka Bank, and Tata Sponge Iron will be declared today. Among the 50 stocks in the Nifty index, 46 were trading up, while only four were down. In the 30-share Sensex basket, only TCS, Infosys and Wipro were in the red. Shares of TEC declined despite the second quarter performance of the company showed that the coutry's largest software experter is on a strong base.