Equity indices settled the week-ended Friday on a positive note, supported by strong global cues ahead of opinion poll results scheduled later on Saturday for the Karnataka elections.
The BSE Sensex rebounded 289.52 points, while the NSE Nifty reclaimed the 10,806.50 mark on strong buying in banking, metal, capital goods and energy stocks in trade.
Telecom stocks were severely hit in trade, after Reliance Jio launched its new Zero Touch postpaid plan. Shares of Idea Cellular and Bharti Airtel plunged 11.83% and 6.44% respectively in trade.
Shares of PSU banking were plunged, following the heavy losses posted by Union Bank of India. Punjab National bank and Canara Bank were subdued with losses, among others.
NSE Top Gainers: Asian Paints (+5.53%), Hindustan Petroleum Corporation (+3.52%), Vedanta (+2.57%) emerged as top gainers on NSE, while Bharti Airtel (-6.32%), Sun Pharma (-533%) and Titan Company (-1.55%) were top losers.
Indian markets are now expected to take signals from the result of the opinion polls in Karnataka, which are scheduled on Saturday. If the opinion polls indicate at a positive outcome for the BJP, a fresh rally in the stocks markets may be expected.