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Sensex holds 39k ahead of Lok Sabha poll result; India VIX hits 4-yr high

All that happened in the stock market ahead of 2019 Lok Sabha election outcome on May 23

Market Wrap  |  Sensex  |  Nifty

SI Reporter  | New Delhi 


Benchmark indices ended Wednesday's session with minor gains amid volatile trade as investors turned cautious on the eve of the Lok Sabha 2019 election outcome. After hitting an intra-day high of 39,249.08, finally settled 140 points, or 0.36 per cent higher at 39,110 while Nifty50 ended the day at 11,738, up 29 points or 0.25 per cent.

India VIX, a gauge of voltality on the NSE, touched a 4-year high of 30.18 in intra-day deals.

IndusInd, Sun Pharma, Bajaj Auto, Bharti Airtel, and Coal India were the BSE's top gainers. Out of the 30 constituents, 25 ended in the green. The market breadth remained in favour of buyers. About 969 stocks advanced and 770 shares declined on the NSE.

Only three out of the 11 sectoral indices ended the day in red, with Private Bank registering the maximum gain of 0.8 per cent while Bank rose 0.7 per cent.

In the broader market, the S&P BSE MidCap index dipped 24 points, or 0.2 per cent, to settle at 14,672, while the S&P BSE SmallCap rose 77 points, or 0.5 per cent, to end the day at 14,369.

Dewan Housing Finance Corporation (DHFL) plunged as much as 18 per cent to Rs 107 in the early trade on Wednesday on the BSE after the non-banking finance company (NBFC) stopped accepting fresh public deposits and renewals of existing deposits. The stock, however, pared some losses to end the day 12 points, or 9.4 per cent lower, at Rs 117.65. READ MORE

Shares of Jet Airways (India) rallied 5 per cent to Rs 158.55 apiece on the BSE on Wednesday on the back of heavy volumes being traded on the hopes of the airline's revivial. The share has surged 32 per cent so far in this week. READ MORE

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