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Markets remain rangebound. BJP leads in Gujarat

Markets have remained rangebound with cautious trades seen in the wake of Gujarat & Himachal poll results being announced today.

BJP is moving ahead of the Congress party, with leads in 92 out of the 143 seats in Gujarat. Congress candidates are leading in 47 constituencies. However Congress’s state chief Arjun Modhwadia is receding at Porbandar constituency. Chief Minister Narendra Modi is leading in Maninagar from where he is seeking to enter the state assembly for a third time.

The frontline market indices also remained rangebound in the wake of political developments. Sensex was down 20 points at 19,456 and the Nifty was down 11 points at 5,918.

BSE Realty index has declined by almost 1% followed by counters like Banks, Power, Capital Goods, Oil & Gas, Auto, Consumer Durable and Metal, all declining marginally. However, BSE Healthcare and IT indices are up nearly 1%.

The main losers on the Sensex at this hour include Bharti Airtel, Sterlite, BHEL, HDFC Bank, ITC, Bajaj Auto and M&M, all falling down by 1% each.

On the gaining side, Cipla, Wipro, TCS, HUL, JSPL, CIL, Maruti Suzuki and Sun Pharma have gained between 1-2%.

Among other shares, Gujarat Apollo Industries has rallied 12%.
Reliance Power is trading lower by 2% at Rs 96.50.



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