Sensex, Nifty Clock Best Weekly Gain In A Month Ahead Of Karnataka Polls

Closing Bell

Indian equity benchmarks resumed upmove after taking a breather in the previous session ahead of Karnataka assembly elections led by HDFC twins, Asian Paints, ITC and Infosys.

The S&P BSE Sensex rose 0.82 percent or 289.52 points to 35,535.79 and the NSE Nifty 50 index climbed 0.84 percent or 89.95 points to 10,806.50.

“The way market is reacting, it is factoring in a BJP victory. But if it does not win, there can be a correction of 100-200 points in Nifty,” Gaurang Shah of Geojit Financial Services told BloombergQuint over phone.

On weekly basis, the benchmarks clocked their best weekly gain in a month. Sensex advanced 1.78 percent and Nifty jumped 1.77 percent.

Twelve out of 19 sector gauges compiled by BSE ended higher led by the S&P BSE Metal index’s 1.56 percent gain. On the other hand, the S&P BSE Telecom index was the top loser, down 4.25 percent.

Find Out All That You Missed During The Day In Countdown