Live: Market Update: Nifty above 11,750 mark as exit polls predict a comfortable win for PM Modi in India
Market Update: Nifty above 11,750 mark as exit polls predict a comfortable win for PM Modi in India
The Indian benchmark index nifty were trading around 11750 mid-Monday, soared almost +3.15% as exit polls predict a comfortable win for the Indian PM Modi (BJP/NDA). All the sectoral indices on the NSE were trading in the green. Nifty PSU Bank, which gained over 7 %, were top gainer. Nifty Banks, Metal and Auto also gained ~3%.
Morning Update: Nifty jumps over 250 points after exit polls predict Modi win
The NSE Nifty were trading around 11,700 level by soaring 252 points to 11,662 level. The benchmark index Nifty50 were trading over 2 per cent higher on Monday, a day after exit poll results predicted the return of the BJP-led National Democratic Alliance (NDA) to power. On NSE sub-indices except IT, all the sectoral indices were trading in green led by bank, auto, energy, infra and FMCG.
Results Of Exit Polls Are Out
Modi To Sweep the polls again with the majority of 365 seats, says the exit polls.
FII & DII data
Foreign Institutional Investors (FIIs) sold shares worth Rs 924.20 crore while Domestic Institutional Investors (DIIs) bought Rs 1809.76 crore worth of shares in the Indian equity market on 17th May.
Earnings To Watch
- Tata Motors
- Bharat Petroleum Corporation
- Hindustan Petroleum Corporation
- Unitel Breweries
Earnings Reaction To Watch
Bajaj Auto Ltd
- Total revenue grew to Rs 7827 crores in Q4 FY19, an increase from Rs 7139 crores in Q4 FY18.
- Net profit after tax to Rs 1408 crores in Q4 FY19, an increase from Rs 1137 crores in Q4 FY18.
- Earnings per share to Rs 48.7 in Q4 FY19, an increase from Rs 40.6 in Q4 FY18.
City Union Bank
- Total revenue grew to Rs 1131 crores in Q4 FY19, an increase from Rs 990 crores in Q4 FY18.
- Net profit after tax to Rs 175 crores in Q4 FY19, an increase from Rs 152 crores in Q4 FY18.
- Earnings per share to Rs 2.3 in Q4 FY19, an increase from Rs 2.2 in Q4 FY18.
Top News Of The Day
Retail Inflation Hits 6-month High
- Retail inflation inched up to a six-month high of 2.92 per cent in April due to a spike in food prices, including vegetables, meat, fish and eggs.
- Inflation based on the Consumer Price Index (CPI) was at 2.86 per cent in the previous month and 4.58 per cent in April 2018.
Japan’s Orix To Buy IL&FS’s Wind Energy
- Debt-ridden Infrastructure Leasing and Financial Services said Japan’s Orix Corporation, which owns 49 percent share each in its seven operating wind power plants, has expressed intent to buy the remaining stake in those assets.
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