New Delhi: Indian markets have turned their morning losses into profit with an amazing fightback. Sensex is now trading over 35,000-mark and Nifty above 10,500-level. Investors sentiment has been quite volatile in today’s trading session with the ongoing counting of votes for the assembly elections that were held recently. Five states namely Madhya Pradesh, Rajasthan, Chattisgarh, Telangana and Mizoram election results are going to be announced soon. BJP is gaining momentum in Madhya Pradesh and is leading in 111 seats compared to 108 seats where Congress party is leading.
Interestingly, there were three sectors which were highly preferred by investors on Sensex today, so much so, that they were trading up by over 200 points. In short, investors have seen a silver lining in the assembly results trends and they are actually looking to take advantage of that.
Over the last few elections, markets have performed well, and today too, after quite a horrific fall, they returned to green. If you have invested in these sectors then you will likely gain a hefty amount today.
The most loved sector of investors, consumer durables is doing well. The S&P BSE Consumer Durables index was trading over 380 points higher or 1.91% at 20,362.31.
In this sector, most of the stocks saw buying sentiment. Among gainers were Crompton Greaves at Rs 223 per piece, higher by 3.26%, followed by VIP Industries at Rs 510 per piece, up by 2.98%, Titan at Rs 928.20 per piece, up 2.37%, VOLTAS at Rs 547 per piece, up 2.34% and PC Jewellers at Rs 64.05 per piece, up by 1.99%.
Meanwhile, the S&P BSE Information Technology index surged by over 200 points or 1.44% trading at 14,380.99. In this index, the gainers were 63Moons up by 11% at Rs 92.90 per piece, followed by Moschip Semiconductor Technology at Rs 25.40 per piece up 9.48%, NELCO at Rs 227.15 per piece up 4.82%, Subex at Rs 6.20 per piece up 3.85%, NIIT Technologies at Rs 1095.50 per piece up 3.66% and Hexaware Technologies at Rs 329.05 per piece up 3.49%.
Another index that saw an upbeat sentiment was S&P BSE Healthcare, which rose by 208.86 points or 1.55%, trading at 13,659.45.
Major pharma stocks that gained were SunPharma, Ajanta Pharma, Glenmark, Jubilant Life Science, Granules India, Wockhardt Pharma and Marksans Pharma ranging from 2% to 5%.