Sensex shoots up 537 pts; Nifty ends above 11,400

NEW DELHI: Equity indices finished the week with a huge gain as focus shifted on the exit polls results, scheduled to be released on May 19. The benchmark BSE sensex on Friday soared 573 points or 1.44 per cent to close at 37,931, while the broader NSE Nifty moved 150 points or 1.33 per cent to settle at 11,407.

Top gainers on the BSE index include Bajaj Finance, Hero MotorCorp, Maruti, Kotak Mahindra Bank, Bajaj Auto, Hindustan Unilever and HDFC twins with their shares rising as much as 6.09 per cent. 23 out of 30 stocks on the BSE platform closed in green.

On NSE, sub-indices Nifty Media, FMCG and Financial Services surged the most, up as much as 3.53 per cent.

“From a price perspective, the kind of correction that was required in the market has been factored in, the base was getting built for three months,” Sacchitanand Uttekar, deputy vice-president and head of technicals & derivatives at Tradebulls Securities told news agency Reuters.

Better-than-expected quarterly numbers also uplifted the sentiments as Bajaj Auto posted a 21 per cent rise in its Q4 profit while Dr Reddy's net jumped nearly 44 per cent.
However, experts predicted that the volatility may increase ahead of election results, amid continued tensions between the US and China and sustained foreign fund outflow. Results will be declared on May 23.
Meanwhile, foreign institutional investors sold equity worth Rs 953.23 crore on Thursday, while domestic institutional investors purchased shares to the tune of Rs 948.00 crore, provisional data available with stock exchanges showed.
(With agency inputs)
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References

1. ^{^} BSE sensex (timesofindia.indiatimes.com)
2. ^{^} NSE Nifty (timesofindia.indiatimes.com)

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