Election results lift equity markets

Mumbai March 14 (IANS) Crucial state election results lifted the domestic equity indices during the early morning trade session on Tuesday.

The outcome of elections to five state assemblies were declared on March 11. However the impact of results were only witnessed on Tuesday as the Indian equity markets were closed on account of Holi on Monday.

Both the key indices gained over 1.50 per cent with healthy buying seen in banking capital goods consumer durables and automobile stocks.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) zoomed by 139.40 points or 1.56 per cent to 9 073.95 points.

The barometer 30-scrip sensitive index (Sensex) of the BSE which opened at 29 437.23 points traded at 29 385.39 points (9.30 a.m.) -- higher by 439.16 points or 1.52 per cent from the previous close at 29 946.23 points.

The Sensex touched a high of 29 561.93 points and a low of 29 381.42 points during the intra-day trade so far.

On March 10 the benchmark indices had inched up on the back of strong rupee fresh inflow of foreign funds and positive global cues.

The NSE Nifty gained 7.55 points or 0.08 per cent to 8 934.55 points while the barometer Sensex was up by 17.10 points or 0.06 per cent to 28 946.23 points.

--IANS
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