Benchmark indices surged on Tuesday morning trade after the ruling BJP showed an impressive show in recently held assembly elections in 5 states, after announcing the result on Saturday, 11 March 2017.
At 10:15 am, the BSE Sensex was trading at 29,437.41 up 491.18 points, while the broader Nifty50 was ruling at 9,078 up 144.35 points. The broader market was trading inline with the benchmark indices with BSE Midcap and BSE Smallcap up 1.6% each.
All stocks on the indices were trading positively. Mahindra & Mahindra, ICICI Bank, HDFC and ITC were the major contributors on BSE Sensex.
The BJP won an astonishing 312 out of 403 seats in the assembly elections of India's largest state, Uttar Pradesh, raising hopes of continued political stability.
The rupee strengthened up to 66 against US dollar. It closed at 66.61 on Friday and opened today at highest level since April 2016.
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