Amidst volatility, benchmark stock indices on Thursday closed with gains anticipating a favourable election result for the National Democratic Alliance (NDA) as predicted by several exit polls. The markets opened high but after the first half-hour retraced back to Wednesday’s closing levels.Finally, the S&P BSE Sensex closed at 23905.60 with a gain of 90.48 points. Similarly, the 50-share NSE Nifty closed at 7123.15 with a gain of 14.40 points.
“The election results on Friday are expected to move the market which has traded in a narrow range for the past two sessions. The volatility was high on Thursday,” said Kiran Kumar Kavikondala, Director, WealthRays Sec urities.
“The market continued to be range-bound ahead of Lok Sabha election results due on Friday. Markets are awaiting the final numbers, which will decide the strength of the new government. There could be increased volatility in the market as the results start trickling in in the morning,” said Sanjeev Zarbade, Vice President-Private Client Group Research, Kotak Securities.
Brokers said that the Sensex and Nifty could scale new heights with a decisive mandate for a stable government while a fractured mandate could cause mayhem in the market on Friday.
