Indian shares rise on ruling party's win in key state election

New Delhi Television

25/11/2024 08:06

** Indian benchmarks NSE Nifty 50  .NSEI  and BSE Sensex
 .BSESN  rise 1.6% and 1.5%, respectively 
    ** All 13 sectors trading higher; small-caps  .NIFSMCP100 
and mid-caps  .NIFMDCP100  up 1.7% each
    ** Analysts attribute upbeat sentiment to PM Modi's party
and its alliance's win in Maharashtra state elections, ending
political instability in one of India's most industrialised and
economically important states
    ** Reliance Industries  RELI.NS , second-heaviest stock on
Nifty, up 1.6% after Citi upgrade; brokerage said after a period
of underperformance, the risk-reward for co has turned
favourable   
    ** JSW Steel  JSTL.NS  falls 2.6%, topping Nifty losers,
after it was selected to be removed from BSE Sensex on Dec. 23  
    ** Zomato  ZOMT.NS , which will replace JSTL, jumps 5.3%
    ** Adani group stocks up between 0.1% and 4.6%, except NDTV
 NDTV.NS  and Adani Energy Solutions  ADAI.NS , which are down
    ** United States filed criminal charges against chairman
Gautam Adani last week, which group denied and called "baseless"


 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))