With early results at Karnataka State Assembly Elections indicating BJP gaining a foothold in South India, the Sensex and Nifty has rose a percent in morning trade on Tuesday. BSE Sensex rose 0.95% to 35,895.55 and Nifty rose 0.88% to 10,901.50
Early reports from counting centres in Karnataka revealed that BJP was leading in 119 seats while Congress was leading in 60 seats and JDS in 41 indicative of a clear majority emerging for BJP. Sadananda Gowda, Union Minister said that this is the beginning of BJP gaining supremacy in South India.
Elections were held in 222 constituencies while 2 were postponed. Ramesh Chennithala (Congress), Opposition Leader in Kerala said that anti-incumbency factor led to the defeat of Congress. BJP Leader Yeddyurappa won from Shikaripura. The results have belied expectations of a hung Assembly as predicted by some exit polls.
Top Sensex , Nifty Gainers
Among major gainers in Sensex were BF Utilities 436.20 (10.92%), BEML 1155 (9.57%), Lal Path Lab 882.30 (9.45%), Tata Steel 181.75 (8.73%), Suzlon 9.38 (6.23%). Top Nifty gainers were Bajaj Finance 1925 (3.24%), Tata Steel 625.40 (2.47%), Power Grid Corporation of India 213( 2.15%), Kotak Bank 1,298.05 (2.08%) and Yes Bank 351.75 (2.02%).