BJP Poll Victory Sends Sensex up to 600 points, Nifty Hits 50
By MEHER ONISA : 14-Mar-2017
NEW DELHI: Tuesday’s early morning trading hours has screened the success graph of the BSE benchmark Sensex that touched an all-time high record of 615 points, or 2.12 percent to hit to an of 29561.93. Nifty scaled 9,122.75 and was trading strong up to 188. The Fed rate hike began to fizz in the first half of the day while ICICI Bank has been able to flourish and float to a level of 5 percent.
Along with the cheerful investors, the sentiment of the stock exchange also kept sledging after the BJP’s thrilling poll result in Uttar Pradesh. BJP's groundbreaking success in the Uttar Pradesh Assembly Elections has worked like a vaccine to the stock market.
On this prosperous day, despite the renewed selling of the US currency by banks, and exporters and the other entities, the rupee flashed 11 months high with 40 paise higher at 66.20 against the dollar.
BJP has granted a glittering opportunity to the optimistic rupee traders to play up in the foreign exchange domain. The contrasting difference would help them mint profitability in the day trading. According to the dealers, the premium gap for the INR-USD pairing may escalate from 5-9 paisa to 10-15 paisa for the short term offshore and onshore contracts.