Sensex dips 300 points after Exit Polls vote for AAP govt in Delhi

NEW DELHI: The S&P BSE Sensex plunged as much as 328 points or over 1 per cent in trade on Monday after most exit polls on Saturday predicted an AAP win in the Delhi elections. The results will be declared on Tuesday.

An average of five exit polls gave AAP 41 seats, BJP 27 and Congress 2 in the 70-member House.

A disappointing December quarter earnings over the weekend also weighed on sentiments as current stock valuations priced in the prospect of higher profits.

At 10:00 a.m., the 30-share index was at 28421.62, down 296 points or 1.03 per cent. It touched a high of 28566.50 and a low of 28389.25 in trade today.The Nifty was at 8575 down 85 points or 0.99 per cent. It touched a high of 8604.15 and a low of 8564.85 in trade today.

The S&P BSE Midcap Index was down 0.85 per cent and BSE S&P Smallcap Index edged lower by 0.88 per cent.

ONGC (up 0.87 per cent), Sun Pharma (up 1.06 per cent), Infosys (up 0.43 per cent), and HUL (up 0.23 per cent) were among the major Sensex gainers.

GAIL India (down 4 per cent), Tata Steel (down 2.3 per cent), Tata Power (down 3.1 per cent), ICICI Bank (down 2.5 per cent) and M&M (down 2.4 per cent) were the major index losers.

Source:economictimes

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Arvind Kejariwal