Markets During Elections
After a tumultuous start to the week, the markets closed in green on Tuesday, October 8. This came to pass on the same day as the results for the states of Haryana and J&K came to pass.
In an unexpected turn of events defying the pollsters, Haryana went to the incumbent BJP for the third straight time, while J&K went to the INDIA alliance, powered by the National Conference and the Congress party.
As the day came to an end and as the results got clearer, the BSE Sensex jumped with gains of 584.81 points, or 0.72 per cent, ending the day at 81,634.81. Similarly, the NSE Nifty also made gains. This index increased in value by 217.40 points or 0.88 per cent, to close at 25,013.15.
Additionally, the Nifty Bank was one of the biggest gainers, as it closed with major gains. The index closed at 51,021.00, surging by 542.10 or 1.07 per cent.
Gainers: On the BSE tranche, at the time of writing, major gainers included Adani Ports with gains of over 4 per cent. Mahindra & Mahindra and Reliance also made major gains. In addition, the State Bank of India made gains of over 1.5 per cent.
Losers: Tata Steel, Titan and Bajaj Finserv all lost over 2 per cent of their value. JSW Steel and Bajaj Finance also lost value.
Markets In The Morning
The Sensex began the day in green at 80,826.56. And the Nifty at 24,832.20, also starting in green
Nifty Bank in the morning session was trading high at 50,736.10.
Asian Markets
The Asian markets failed to flourish, as some of the major indices closed on a negative note. Japan's Nikkei lost 1.00 per cent or 395.20 points, short of the 39K mark, closing at 38,937.54.
Another Tokyo-based index, TOPIX, closed at 2,699.15, dropping in value by 1.47 per cent or 40.24 points. As we move to China, the Hang Seng also closed with colossal damages in its numbers, closing with a mammoth of 9.41 per cent or 2,172.99 points, at 20,926.79.
Shanghai-based SSE Composite ended the day's trade in the green with gargantuan gains. The index rocketed by 4.59 per cent or 153.28 points of its value and closed at 3,489.78. The CSI 300 Indexals made gains, increasing by 5.93 per cent or 238.24 points, this took the index to 4,256.10. South Korea's KOSPI closed in red with losses of 0.61 per cent or 16.02 points, rising to 2,594.36.
