Sensex bounced 487 focuses after state election result; Nifty hits 6400

The Bse Sensex and nifty rose to a record high on Monday after the primary restriction party Bjp secured an absolute larger part in three out of four states according with election decision comes about out on Sunday.

As of 09.50 a.m., the Sensex traded up 355 points t 21,352, while the Nifty traded 108 points higher at 6,368.

At the domestic level, 22 of the 30 Sensex stocks managed to make gains . Tata Power’s shares 5.57% , 3.58% of Coal India , NTPC 3.44% , 2.33% and ONGC’s share of Hero Honda Motors rose 1.31% .

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On the other hand HDFC 1.65 per share , up 1.07%, Hindalco Industries , Hindustan Unilever by 0.98% and 0.98% in Bharti Airtel . Overall market sentiment is positive .

All 50 shares on the Nifty traded in the green, Banking stocks could lead the rally today while cyclical stocks for example infrastructure and commodities may also see buying interest.but banking stocks were the biggest gainers. The Bank Nifty rose as much as 4.3%. ICICI Bank was the top Nifty gainer, up 5%.

The partially convertible rupee was trading at 61.04/05 per dollar.

UCO Bank is a ‘BUY’ call with a target 88 and a stop loss 76 

ICICI Bank Ltd is a ‘BUY’ call with a target 1190 and a stop loss 1122