• Source:PTI
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Stock Market:  Benchmark equity indices Sensex and Nifty started day trade on an optimistic note on Wednesday following a bloodbath in the previous session. The buying at lower levels resulted in an upward trend in the markets in early trade. After a sharp decline on Tuesday, the BSE Sensex, which consists of 30 shares, rose 948.83 points to 73,027.88 in early trade. The NSE Nifty climbed 247.1 points to 22,131.60.

 At around 10:22 am, Sensex was trading at 72390, up by 297 points or 0.4 percent. While Nifty 50 was trading at 21988, up 95 points or 0.42 percent.

Although the NDA is comfortably above the majority mark of 272 in the 543-member Lok Sabha, the BJP has fallen short of the magic number for the first time since 2014 and is critically reliant on its allies to form a government.

The Election Commission has declared the results for all 543 Lok Sabha seats, with the BJP winning 240 seats and the Congress 99. Hindustan Unilever, Nestle, Asian Paints, HCL Technologies, HDFC Bank, Kotak Mahindra Bank, and ITC were the biggest gainers among the 30 Sensex companies.

Seoul and Hong Kong were trading higher, while Tokyo and Shanghai were trading lower in Asian markets. The US markets ended in positive territory on Tuesday. Global oil benchmark Brent crude fell 0.04 percent to USD 77.49 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) offloaded shares worth Rs 12,436.22 crore on Tuesday. The markets had their worst trading day in four years on Tuesday, as the BJP fell short of the magic number for the first time since 2014. On Tuesday, the BSE benchmark Sensex plunged 4,389.73 points or 5.74 percent to close at a two-month low of 72,079.05 points. During the day's trading, the barometer plunged 6,234.35 points or 8.15 percent to hit a nearly five-month low of 70,234.43.

The NSE Nifty dropped 1,982.45 points or 8.52 percent to 21,281.45 during the day. Later, it ended at 21,884.50, a sharp decline of 1,379.40 points or 5.93 percent.

With PTI's Input

Also Read: Stock Market Closing: Sensex Tumbles 4,389 Points, Nifty Tanks 1,982 Points As BJP Fails To Get Majority In 2024 General Election