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Stock Market: In spite of poor performance in the 5 states, the confidence of the stock market on the BJP continues to be intact. For this reason, the Sensex closed at 35779 with 629 points stronger on Tuesday. The Nifty rose 188.45 points to reach 10737.60 marks. With heavy shopping in auto, metal and banking stocks, the market has got very support. Significantly, the performance of the BJP in Madhya Pradesh, Telangana, Mizoram, Chhattisgarh, and Rajasthan, which came a day earlier, was very weak.
Brokerage houses trust Modi's return
Even though the BJP has lost the elections in Rajasthan, Madhya Pradesh and Chhattisgarh, but the Brokerage Houses still have faith in Modi's return. CLSA said that the market is still confident of Modi's victory in 2019. Market estimates of such brokerage house are also getting very support.
These are the most climbing stocks
Talking about the Nifty 50, Hero MotoCorp topped the list with a rise of 7.23 percent. Indiabulls Housing 6%, UPL 5.63%, Bharti Airtel 5.27%, Adani Ports 5.26%
Hero MotoCorp at 11-Week High
Hero MotoCorp's share reached 11 weeks high, hoping to increase demand in the rural market. The world's two largest two-wheeler manufacturer, Nifty joins Top 50's, Top Gainers. The stock closed at a level of Rs. 3248 with a strength of more than 7 percent.
Yes Bank 5 percent stronger
Before the board meeting on December 13, Yes Bank's shares got a good start. The name for the new chairman will be decided in the board meeting, which will be sent to the RBI for approval. At the end of the session, YES Bank's stock closed at Rs 186.80 with a gain of 5.30 percent.
Nifty auto, metal, banking index rise
Nifty auto, metal, and banking index recorded good fortune. Apart from this, in the wake of RBI's board meeting, there was a lot of panic in the banking stocks.
Nifty Auto gained 3.61 percent, Nifty Metal by 2.54 percent, Nifty Bank 1.84 percent, Nifty Realty up 4.36 percent. Apart from this, all other indexes were closed in the green mark.
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