Sensex near record highs ahead of election results

Reuters Market Eye - The BSE Sensex gains 0.33 percent and the Nifty is up 0.3 percent, hovering near record highs hit on Tuesday.

Shares remain supported by hopes that the Bharatiya Janata Party and its allies would win a clear majority, or come very near it, when results are unveiled on Friday.

Domestically-focused shares continue to lead gains on hopes a new government would improve the economy: Hero MotoCorp gains 1 percent, while Axis Bank is up 1.3 percent.

Tata Steel Ltd gains as much as 2.6 percent to a one-year high after posting January-March net profit that easily beat analyst estimates.

 

Aurobindo Pharma gains 1.7 percent after index provider MSCI adds the stock to the MSCI India index following its semi-annual global index review.

(Reporting by Abhishek Vishnoi)