Home / Market Beat / Its Samajwadi Party in UP. Markets marginally up.

Its Samajwadi Party in UP. Markets marginally up.

The Samajwadi Party (SP) has been leading in the results from the UP elections. Though the party may not obtain absolute majority, it has managed to score a higher share as compared to the BSP and the Congress. The BSP has around 83 constituencies, while the SP has an upper hand in 142+ constituencies. The BJP and Cong candidates are leading in 53 and 45 constituencies respectively.

In Punjab, the Shiromani Akali Dal led alliance is leading in 66 constituencies. BJP has the lead in Uttarakhand. However Congress is leading in the Manipur results.

In the wake of the much awaited results from the state elections, the Indian markets have been trading marginally in the green. The Nifty has managed to rise by 0.5% to trade at 5312, up by 32 pts.

Banking stocks are in the green. SBI has rose by 2% to trade at 2220. ICICI Bank has extended the rally with its 0.6% gains. HDFC Bank is up by 0.6%. PNB is up by 1%.

Coal India is up by 1.8% in today’s trade, while other metal counters are trading soft. Hindalco is down by 2% and Sterlite industries is down by 1%. Tata steel is also mildly in the red.
L&T is up by 1.4%. Unitech has also gained 2%. Maruti, HDFC, SAIL, Punj LLoyd – have all gained over a 1% each. M&M is up by 2% in the trade.

The CNX Midcap index is up by 0.9%. The Nifty Junior is also up by a percentage.
Real estate company HDIL is up by 3.6%. Petronet LNG, Jubilant Foodworks (JUBLFOOD), Educomp – have all gained 1%. Sugar stock Renuka has also gained 1.5%.



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