Gujarat Assembly Elections countings are underway; Sensex goes up to 150 pts as BJP is leading now. Gujarat election countings have strongly affected Sensex and Nifty. As per the reports, Sensex falls to 800 points and Nifty falls to 200 points. However, the equity benchmarks began from the week sharply lower on Monday. And now the latest voting counts of elections indicated that BJP is leading in both the states but with a small margin. According to the sources, BJP has garnered total 88 seats while Congress stands with 81 seats. The Gujarat and Himachal Pradesh elections are head to head fight between BJP and Congress.
According to the latest reports, the 30 share BSE Sensex falls 740.11 points or 2.21 percent at 32,722.86 and the 50 share NSE Nifty fell 208.80 points. The head to head in both the state election shows a severe impact on Sensex with fall of 800 points. It is reported, that out of 30 stocks only 1 stocks is trading that is green which is Cipla after getting tentative approval from the US Food and Drug Administration for HIV drug, Darunavir hydrate 75-800 mg. Following the weakness in equity markets, about five shares declined for every share rising on the BSE. The Indian rupee has sharply fallen by 25 paise to 64.29 against the US dollar in early trade.
Moreover, it is reported that the top contributors who will losses Nifty are Reliance Industries, HDFC Bank, HDFC, ICIC Bank, Tata Motors, Bajaj Finance, SBI, IOC, ITC, Adani ports and Vedanta were down to 2-5 percent. All the sectoral indices traded in red such as Nifty Bank, Realty, IT, Metal, Auto and FMCG indicating percentage fall of 1-3 percent. Head to head battle between most powerful parties of India, depicts fall in Sensex as the ruling party BJP is leading Congress by a small margin. The results will be announced by the end of the day today.