Riding high on exit poll results, Sensex surges over 350 points in opening trade

The benchmark BSE Sensex surged over 300 points in the opening trade on Friday after exit polls predicted BJP's victory in Gujarat and Himachal Pradesh Assembly elections.

Led by Prime Minister Modi, the BJP looks headed for getting majority in its bastion Gujarat and Himachal Pradesh.

The impact was visible as all sectoral indices led by metal and capital goods jumped by up to 1.87 per cent.

The 30-share Sensex climbed 358.11 points, or 1.07 per cent, to 33,605.11. It had gained 193.66 points in the previous session. The 50-share NSE Nifty too went up 110.20 points, or 1.07 per cent, to 10,362.30.

The Rupee also strengthened and jumped 23 paise to 64.11 against the dollar in the forex market.  

Prominent gainers include Adani Ports, Bajaj Auto, HDFC Bank, L&T and Tata Steel, rising by up to 2.48 per cent.

Globally, at other Asian markets, Japan’s Nikkei was down 0.88 per cent while Shanghai Composite shed 0.48 per cent in early trade on Friday. Hong Kong’s Hang Seng too fell 0.96 per cent.

What exit poll suggested

News Nation exit poll predicted the BJP is headed for a clear win in Gujarata and Himachal Pradesh. The exit poll carried out by News Nation at 182 constituencies of Gujarat suggested the saffron party may win 135 seats in the state while Congress slided below 50.

In Himachal Pradesh, the BJP may return to power by winning 47 out of the total 68 assembly seats. The ruling Congress fighting anti-incumbancy may suffer massive defeat and settle down for just 23 seats.