Mumbai, June 5 (UNI): India’s benchmark indices recovered partially from Tuesday’s mayhem as the BSE Sensex rose over 2300 points or 3.2% at 74,382 after the allies asserted support to Prime Minister Modi-led BJP for the formation of the next government.
The stock market witnessed a complete bloodbath on Tuesday after the Lok Sabha election verdict in which the BJP fell short of the clear majority of 272 seats on its own even as the alliance NDA got 291 seats.
The NSE Nifty also rose nearly 736 points to close at 22620.35. The stock market rallied as clarity emerged on the formation of the next government but the response was subdued in the beginning but picked up as the day progressed.
The 30-share Sensex was all green today with heavy weights including Reliance Industries, TCS, Infy, SBI, ICICI Bank, Airtel, HUL and L&T ending on a positive note. The midcap and smallcap indices also rose by 4.41% and 2.93%, respectively.
On Tuesday, the Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) sold equities in the cash segment to the tune of Rs 12,436 crore and Rs 3,319 crore, respectively. Generally, whenever the FIIs are net sellers, the DIIs pitch in for buying but yesterday was rare when both were net sellers, according to data available.
