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Sensex, Nifty hold gains led by PSU banks, auto, realty

Sensex, Nifty hold gains led by PSU banks, auto, realty

Sensex, Nifty hold gains led by PSU banks, auto, realty
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By Mousumi Paul  May 24, 2019 12:22:41 PM IST (Published)

Indian benchmark indices BSE Sensex and NSE's Nifty 50 held gains on Friday after Narendra Modi-led BJP's landslide win in the 2019 Lok Sabha elections. This time the victory was bigger than the 2014 general elections.

Indian benchmark indices BSE Sensex and NSE's Nifty 50 held gains on Friday, boosted by Narendra Modi-led BJP's landslide win in the 2019 Lok Sabha elections. At 12.05 PM, the Sensex was up 332.59 points or 0.86 percent, at 39,143.98,  while Nifty50 was up 93.85 points or 0.81 percent at 11,750.90.

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The Nifty PSU Bank continued to remain the best-performing sector followed by Nifty Realty and Nifty Auto along with others. The only losing sector in the red is Nifty IT.
Bharti Airtel, L&T, M&M, Eicher Motors and Zee Entertainment were among the major gainers on the Nifty50, whereas ONGC, Tech Mahindra, HCL Technologies, Adani Ports and Hindustan Unilever led losses.
Prime Minister swept to a massive triumph in the general elections 2019 on Thursday, stunning opponents and upsetting predictions of a fractured mandate, giving his National Democratic Alliance (NDA) an unassailable lead of 341 seats — well above the halfway mark in Lok Sabha —  and on course to increase his majority in 2014.
Shares of Jet Airways fell over 8 percent intraday after media reports that Hinduja Group and Etihad Airways failed to strike a deal to buy a stake in the cash-strapped airlines.
Meanwhile, Asian stocks declined on Friday, as investors remain worried about the ongoing trade tensions between the United States and China.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.18 in the morning.
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