After surging to new highs on Tuesday on the back of exit polls showing that BJP-led NDA would form the next government, the Sensex and the Nifty opened the session near flat due to profit-taking by funds and retail investors amid firm global cues.

The Sensex crossed the 24,000 mark in intra-day trade on Tuesday to close at a third consecutive new high of 23,871, up 320 points or 1 per cent. The Nifty too hit a new intra-day high of 7,172.35 to end the day at a fresh record of 7,109 after zooming up by 95 points or 1 per cent.

The exit polls on Monday night showed between 249 to 290 seats to the Narendra Modi-led alliance which is close to the half-way mark in the 543-member Lok Sabha.

At 9.15 a.m., the 30-share BSE index Sensex was up 19.30 points or 0.08 per cent at 23,890.53 and the 50-share NSE index Nifty was up 10.55 points or 0.15 per cent at 7,119.30.

Mixed trading was witnessed in the Asian markets due to overnight cues from the Wall Stree and as investors weighed earnings.

Nikkei 225 fell 50 points or 0.35 per cent to 14,150, Hang Seng surged 398.62 points or 1.82 per cent to 22,261.61, ASX 200 was down 12.4 points or 0.23 per cent at 5,448.44 and Shanghai jumped 41.74 points or 2.08 per cent to 2,052.87.

U.S. stocks had ended flat on Tuesday as the benchmark S&P 500 retreated after climbing over the 1,900 mark, while an index of European shares ended at a six-year high on solid corporate earnings and bets of more European Central Bank stimulus.

A weaker-than-expected U.S. retail sales report on Tuesday did little to change views that the economy was poised for faster growth this quarter.

The Dow Jones industrial average was up 19.97 points or 0.12 per cent at 16,715.44, the S&P 500 gained 0.8 points or 0.04 per cent to 1,897.45, while the Nasdaq Composite fell 13.69 points or 0.33 per cent to 4,130.17.

Courtesy: The Hindu Business Line

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