Sensex surges by over 400 points in opening trade as exit polls see gains for BJP

 

The BSE Sensex surged over 439 points, or 2.12%, to 21,148.26 in opening trade on Thursday after exit polls predicted a strong showing for main Opposition BJP in state elections held since November.

The gains were broad-based, with all components of both the BSE and the broader NSE index gaining. Results for state elections are due on Sunday.

The rupee also gained to its strongest against the dollar in a month on Thursday as exit polls predicted a strong showing for BJP in state elections held since November.

Confirmation of a strong showing by the opposition Bharatiya Janata Party would bolster the chances of victory in general elections due by May, according to analysts.
The rupee gained to 61.75 against the dollar, its strongest level since Nov. 5. It was last trading at 61.76/77 compared to its 62.05/06 close on Wednesday.

Barely five months before the Lok Sabha elections, exit polls on Wednesday predicted a sweep for the Bharatiya Janata Party (BJP) in Chhattisgarh, Madhya Pradesh, Rajasthan and Delhi assembly elections.

The state elections have been billed as the semi-final before the final battle in the general elections due by April-May 2014. They have also been projected as a popularity test for Modi.

For the BJP, victory in these four states, which account for 72 of the total 543 Lok Sabha seats, would strengthen Modi’s bid to bring the saffron party back to power at the Centre after 10 years.

If the exit poll predictions come true, the BJP is headed for a hat-trick in Madhya Pradesh and Chhattisgarh and will oust the Congress in Rajasthan.

Delhi is predicted to go to the BJP too.

 

anand maurya

pgdm-1sem

 

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Sensex surges by over 400 points in opening trade as exit polls see gains for BJP

Sensex surges by over 400 points in opening trade as exit polls see gains for BJP