Sensex, Nifty retain positive bias ahead of poll results

Epic Update Ultratech Cement
Epic Update Ultratech Cement

The market held on to its trimmed gains ahead of key events such as assembly election results and US Federal Reserve’s meeting next week.

The 30-share Sensex was up 33.96 points at 28963.09, while the Nifty was up 8.90 points at 8935.90. 
The market breadth narrowed as 1,253 shares had advanced, 1,159 shares had declined, while 171 shares remained unchanged.
Infosys, Hero MotoCorp and UltraTech Cement were the top gainers on the indices, while Axis Bank, ONGC, Tech Mahindra and Power Grid were a drag.

Investors were applying aggressively to the initial public offering (IPO) of Avenue Supermarts, the operator of supermarket retail chain D-Mart. According to data available on the National Stock Exchange (NSE), the issue has been oversubscribed 11 times as of 11: 15 am on Friday—the closing day of the issue. It received bids worth for 48.31 crore shares against the total issue size of 4.43 crore shares.

Investors are now getting ready for the final results of the assembly elections after having reacted to the exit polls this morning.

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