Markets breathe easy after BJP noses ahead in Gujarat, HP

December 18, 2017 17:38

The stock market rallied 139 points today on prospects that the BJP is set to keep power in Gujarat and topple the Congress in Himachal Pradesh, but not before it got a big scare from counting of votes early on during the session.

The start was ominous as the benchmark Sensex crashed 867 points to go below the psychological 33,000 while the NSE Nifty plunged 258 points within one hour of counting of votes that showed both the parties were locked in a tight race. But then, the tide turned as the BJP started to take lead in a majority of seats.

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