The market remained in positive terrain led by short covering in banks, FMCG and metals stocks. The Sensex rose 214.11 points to 28441.50 and the Nifty climbed 60.65 points to 8587.
The BSE Midcap and Smallcap indices outperformed benchmarks, up 0.9 percent each. About 1303 shares have advanced, 510 shares declined, and 166 shares are unchanged on the Bombay Stock Exchange.
Bharatiya Janata Party (BJP) has conceded its defeat in Delhi elections, leading in 9 seats while Aam Aadmi Party (AAP) was leading in 60 seats. Elections held for 70 seats on Saturday.
Shares of ICICI Bank, Tata Motors, State Bank of India, Mahindra & Mahindra, BHEL, GAIL, Tata Steel and Sesa Sterlite gained 1-2 percent.
Hindalco Industries topped the buying list, up 3.5 percent after Novelis earnings. Subsidiary Novelis posted 3.5 times rise in net income at USD 46 million and revenue grew 18 percent to USD 2.8 billion (Y-o-Y).
However, Sun Pharma lost 1.5 percent followed by L&T, ONGC, Wipro, Bharti Airtel, Hero Motocorp and Maruti with 0.2-0.9 percent loss.
Meanwhile, the rupee gained further, up 19 paise to 61.97 a dollar.
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