Sensex spurts 140 points to close at 39,110; banking, auto stocks gain ahead of general election results

Mumbai: The benchmark BSE Sensex jumped 140 points on Wednesday, driven by gains in banking and auto stocks ahead of the general election results.

After swinging over 300 points during the day, the 30-share index ended 140.41 points, or 0.36 percent, higher at 39,110.21. The gauge hit an intra-day high of 39,249.08 and a low of 38,903.87.

In similar movement, the broader NSE Nifty rose 28.80 points, or 0.25 percent, to 11,737.90.

 Sensex spurts 140 points to close at 39,110; banking, auto stocks gain ahead of general election results

Representational image. Reuters.

IndusInd Bank was the biggest gainer in the Sensex pack, rallying 4.84 percent, followed by Sun Pharma, Bajaj Auto, Bharti Airtel, Coal India, Tata Motors, SBI, ICICI Bank, Hero MotoCorp, ONGC, HDFC, Vedanta, L&T, Kotak Bank, Maruti and Axis Bank, ending up to 2.92 percent higher.

On the other hand, Yes Bank, ITC, PowerGrid, TCS and HUL ended in the red, slipping up to 2.34 percent.

According to experts, investor sentiment turned positive this week after most exit polls forecast a win for the Narendra Modi-led NDA. The results of the seven-phased polls will come out Thursday.

Unabated foreign fund inflows too buoyed market mood here, traders said.

Foreign institutional investors net bought equities worth Rs 1,185.44 crore on Tuesday, while domestic institutional investors sold shares to the tune of Rs 1,090.32 crore, provisional data available with stock exchanges showed.

Meanwhile, the Indian rupee appreciated marginally to 69.68 against the US dollar.

Brent crude, the global benchmark, was trading at $71.72 per barrel, higher by 0.64 percent.

Globally, bourses in Asia ended on a mixed note, while those in Europe were trading in the green in early deals.

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Updated Date: May 22, 2019 16:06:40 IST