NEW DELHI: Benchmark indices Sensex and Nifty opened on a firm note on Monday after the completion of the first phase of Gujarat polls. Most Asian markets were trading positive, which added to the positive sentiment.
At 9.25 am, the 30-share Sensex was trading 126.62 points, or 0.38 per cent, higher at 33,376. The index rose 194 points to hit a high of 33,444.98 in early trade. The NSE barometer Nifty50 index was trading 31.90 points, or 0.31 per cent, higher at 10,297.55. Fear gauge India VIX moved up 2.6 percentage points to 14.02.
Sixty-eight per cent polling was recorded on Saturday in the first phase of polls in 89 assembly seats in Gujarat. This is against the last election that saw a turnout of 70.75 per cent in the first phase. Dalal Sreet will follow the Gujarat election outcome keenly, analysts said.
“State election outcomes have historically been short-term events for the market,” Sunil Singhania of Reliance Capital told ET Now.
Among stocks, Bharti Airtel rose 1.79 per cent to Rs 534.55. Axis Bank, SBI, ITC and Wipro added 1.71 per cent, 1.60 per cent, 1.53 per cent and 1.45 per cent, respectively.
On the downside, Hindustan Unilever, Bajaj Auto and Kotak Mahindra fell 0.96 per cent, 0.48 per cent and 0.39 per cent, respectively.
Shares of Max India fell over 3 per cent after the Delhi government cancelled the licence of Max Hospital, Shalimar Bagh. Max India is the holding company for Max Healthcare. The decision came nearly a week after one of the premature twins born on November 30 and declared dead was found alive by the parents while being taken for last rites.