Day Before Counting, Markets Open Positive; Nifty Above 11,700
Sensex gained close to 40 points to open at 39,086.21, but soon extended gains to more than 150 points.
Equity markets opened on a sedate note on Wednesday, 22 May, a day before results of the Lok Sabha election 2019 are declared.
The broader 50-share NSE Nifty started trading at 11,727.95, up 18 points, and was testing the 11,700-levels in morning trade.
The markets have been extremely volatile in the last couple of days. On Monday, markets zoomed on back of exit polls which predicted a return to power for the Narendra Modi-led NDA government. The boost in investor confidence resulted in Sensex gaining more than 1,400 points, the highest single-day gain in more than 10 years.
On Tuesday too, the markets extended gains in the early hours but finished with significant losses as investors resorted to profit booking.
On Wednesday morning, Nifty Financial Services and Nifty Realty sub-indices were gaining the most while the Nifty FMCG sub-index was facing losses.
Bharti Airtel, ICICI bank and Sun Pharma stocks were among the top gainers in Wednesday’s morning trade.
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