Equity benchmarks started off the truncated week on a solid note, with the Sensex rising more than 400 points following landslide win of BJP in Uttar Pradesh and Uttarakhand. BJP President Amit Shah also said the ruling party would form government in four out of five states.
The 30-share BSE Sensex was up 512.56 points or 1.77 percent at 29458.79 and the 50-share NSE Nifty gained 160.05 points or 1.79 percent at 9094.60. About 1119 shares advanced against 108 declining shares on the BSE.
The Indian rupee gained in the early trade on Tuesday. It has opened higher by 40 paise at 66.20 per dollar versus Friday's close 66.60.
The rupee is currently trading at one year high.
Bhaskar Panda of HDFC Bank said, "Expectations have built up for a rate hike in the FOMC meeting this week. Dollar index is up at 101.37. However in Indian context election victory in major states will be a booster."
He further added, "I expect the USD-INR pair to open with a gap and trade in a range of 66.30-66.50/dollar today."
http://www.moneycontrol.com/news/business/markets-business/market-live-nifty-hits-record-high-sensex-up-560-pts-post-bjp-wins-up-elections-2150013.html
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