Closing Bell: Sensex ends 361 points higher ahead of exit polls, Nifty just short of 10,700; Kotak Bank up 9%

Equity benchmarks ended the session on a positive note, with the Nifty ending well above 10,650-mark.

Investors awaited cues from exit polls of elections in five states.

Financials led the surge, backed by a huge jump in Kotak Mahindra Bank.

Meanwhile, automobiles and consumption names were the big gainers, while the Nifty Midcap ended flat.

At the close of market hours, the Sensex was up 361.12 points or 1.02% at 35673.25, while the Nifty was higher by 92.50 points or 0.87% at 10693.70. The market breadth was negative as 1077 shares advanced, against a decline of 1458 shares, while 155 shares were unchanged.

Kotak Mahindra Bank, Adani Ports, and Bajaj Finserv were the top gainers, while Sun Pharma, Coal India, HCL Tech and GAIL lost the most.

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Equity benchmarks are at their high point, with the Sensex rising over 250 points. The Nifty is well above 10,650.

The Sensex is up 267.89 points or 0.76% at 35580.02, and the Nifty up 62.40 points or 0.59% at 10663.60. The market breadth is negative as 930 shares advanced, against a decline of 1459 shares, while 132 shares were unchanged.

The Sensex is up 171.88 points or 0.49% at 35484.01, and the Nifty up 31.50 points or 0.30% at 10632.70. The market breadth is negative as 919 shares advanced, against a decline of 1,457 shares, while 135 shares were unchanged.

Kotak Mahindra Bank and Infosys are the top gainers, while Sun Pharma, Yes Bank, HCL Technologies and GAIL lost the most.

ICRA has revised Jet Airways’ long term loans and NCD rating to ‘C’ from ‘B’, while the outlook is negative.

: Research house maintained buy on stock with target of Rs 191 per share.

The company already awarded contracts for 1.3 mt and it is in the process to award the balance quantity on a war footing, said Citi.

Company has already started lifting coal from four areas.

Indian rupee is trading higher but off-days high at 70.61 per dollar.

: Shares of Dilip Buildcon rose 4.4 percent as company bagged order worth Rs 1,000 crore from Mahanadi Coalfield.

The company received Letter of Acceptance (LOA) for a new OB Removal Contract Mining Project valued at Rs 1000.36 crore by the Mahanadi Coalfield (MCL), a subsidiary of Coal India, Samleshwari OCP, Jharsuguda District in the state of Odisha.

Equity benchmarks are volatile ahead of crucial exit polls that will be declared in the evening. The Nifty has held 10,600-mark, while the Sensex is up around 100 points after seeing a 200-point surge in the morning.

The Sensex is up 128.73 points or 0.36% at 35440.86, and the Nifty up 19.10 points or 0.18% at 10620.30. The market breadth is negative as 998 shares advanced, against a decline of 1269 shares, while 132 shares were unchanged.

Among sectors, pain was visible among metals, energy and PSU banks, while automobiles and Nifty Bank were the big gainers. The Nifty Midcap index is trading flat.

Kotak Mahindra Bank, Asian Paints, and Zee Entertainment were the top gainers, while Yes Bank, Wipro, HCL Tech and GAIL lost the most.

Kotak Mahindra Bank, in an exchange filing, has said that it is unaware of any plans by Berkshire Hathaway to buy a stake in the bank. The lender has issued a clarification based on a story by CNBC-TV18 that Warren Buffet company was looking to buy 10 percent stake.