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Stocks open in green as Gujarat votes for final phase

The flagship Sensex opened in the green by jumping 117 points today on value-buying in blue- chips ahead of final phase voting in Gujarat.

Asian stocks moved sideways. The NSE Nifty went above 10,200-mark. The 30-share BSE index was up 116.70 points, or 0.35 per cent, at 33,169.74. The Sensex had lost 402.75 in the previous two sessions disappointed by grim economic data and the ADB lowering India's economic growth forecast. Also, the NSE Nifty rose 37.70 points, or 0.36 per cent, to 10,230.65.

At 10:32 AM, Sensex was up by 24.14 points to trade at 33,077.18, while Nifty was up by 11.20 points at 10,203.35.

Also read Gujarat elections 2017: PM Modi's mother Heeraben casts her vote in Gandhinagar Analysts said optimistic buying by participants ahead of exit poll results for the assembly election of Gujarat later in the day had a bearing on mood. In her final act as the Fed chair, Janet Yellen moved to hike rates to a range of 1.25 per cent to 1.5 per cent, citing solid US job growth and household spending.

The central bank kept its policy outlook on additional increases for 2018 and 2019 unchanged. Prominent gainers were Dr Reddy's, ONGC, Wipro, Bharti Airtel, Infosys, Heromoto Corp and Lupin, rising up to 0.86 per cent. All sectoral indices, including realty, consumer durables, oil and gas and metal stocks traded positive, with gains of up to 0.85 per cent. Investors took their cue from another Wall Street record after an upbeat assessment of the US economy by the Federal Reserve.

Also read Gujarat elections 2017: 'Dhandha manda hai', cry campaign material makers ahead of second phase Hong Kong's Hang Seng was up by 0.29 per cent while Japan's Nikkei fell 0.14 per cent and Shanghai Composite shed 0.20 per cent in early trade today. The US Dow Jones Industrial Average ended 0.33 per cent higher yesterday.