Exit polls boost markets; all eyes on final outcome

A decisive victory in the state elections is key for the BJP sustaining momentum ahead of the general elections in 2019

The stock markets gained on Friday, defying weak global cues, after exit polls indicated a clear mandate for the Bharatiya Janata Party (BJP) in the Gujarat and Himachal Pradesh state elections. The benchmark Sensex ended 216 points, or 0.65 per cent higher at 33,462.97, while the Nifty 50 index added 81 points, or 0.8 per cent at 10,333.25.

The rupee strengthened to 64.15 versus the dollar from 64.34 on Thursday, while the benchmark 10-year bond yield eased to 7.12 per cent.

A decisive victory in the state elections is key for the BJP sustaining momentum ahead of the general elections