Despite Poll, RBI shocker, Markets end positively

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Bhubaneswa: Despite BJP’s defeat in the Assembly Polls and Urjit Patel’s untimely exit as RBI Governor, the markets today ended on a positive note. The BSE Sensex and NSE Nifty erased their day’s losses to settle around 0.5 per cent higher as the outcome of assembly elections in five states were largely in line with exit polls.

The S&P BSE Sensex ended at 35,150, up 190 points or 0.5 per cent, while the broader Nifty50 index settled at 10,549, up 61 points or 0.6 per cent. During the day, the S&P BSE index had fallen as much as 533 points to hit an intra-day low of 34,426 level, while the Nifty 50 index had slipped 155 points to 10,334. The broader market indices over performed their benchmark peers, with the S&P BSE MidCap index rising 1.5 per cent to end the day at 14,669, while the S&P BSE SmallCap index rose 1.5 per cent at 14,059.

In the Assembly polls the Congress today clinched power from 3 BJP rulled states in the Hindi heartland Rajastan, MadhyaPradesh and Chattishgarh. TRS on the other hand has retained power in Telengana with a absolute majority.

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