Sensex up 1250 Pts, Nifty Gains Over 1.74%; Bank, Telecom, Power in Green

Following Mahayuti’s clean sweep in Maharashtra legislative assembly elections, domestic benchmark indices are cheering up with significant gains. Sensex is currently trading at 80,356.68, up 1.57% while Nifty is up by 1.74% at 24,323.15.

Stocks including auto, bank, media, telecom, oil & gas, power, realty were up by 1-2%, while Bharat Electronics, BPCL, ONGC, Shriram Finance and L&T are the top gainers on the Nifty. PSU stocks including PFC, IRFC, BEL, Central Bank of India, RVNL, Bharat Dynamics, NBCC (India), GAIL, Concor Corporation of India, SAIL gained by over 8% in today’s trading session.

The Indian rupee strengthened to 84.35 against the US dollar by 6 paise, buoyed by positive cues in the domestic equities. However, the domestic currency still faces existential risks due the surge in crude oil prices, driven by intensification of Russia-Ukraine war.