Riding on exit polls that predict the BJP emerging as the single largest party in UP and coming to power in Uttarakhand, the BSE Sensex climbed over 146 points in opening trade today on heavy fund inflows.
All the sectoral indices led by consumer durables, IT, metal, realty, bank, capital goods and auto sectors were trading in the positive zone with gains of up to 0.73 per cent.
The 50-share NSE Nifty also rose 48.70 points, or 0.54 per cent, to trade at 8,975.70.
The 30-share Sensex spurted by 146.50 points, or 0.50 per cent, to quote at 29,076.63.
Brokers said that sustained capital inflows by foreign funds at the domestic bourses and widespread buying by retail investors after exit polls showed the BJP emerging as the single largest party in Uttar Pradesh as well as Goa and coming to power in Uttarakhand lifted the key indices.
The rupee gained 4 paise to 66.67 against the dollar in early trade today at the Forex market on increased selling of the US currency by exporters and banks amidst higher opening in the domestic equity market.
Forex dealers said that besides selling of the American currency by exporters and banks, weakness of the dollar against other currencies overseas also supported the rupee. A higher opening in the domestic equity market influenced the rupee uptrend.
Yesterday, the rupee closed flat at 66.71 against the dollar as cautious traders avoided taking any position ahead of the exit polls outcome and concerns over an impending Fed rate hike next week.