Updated Dec. 3, 2023 11:29 pm ET
0404 GMT — India’s Sensex rises 1.5% to 68473.83, boosted by state election results over the weekend. The results showing incumbent Bharatiya Janata Party comfortably winning three out of four states offer comfort to the markets as far as political stability is concerned, Gautam Duggad, analyst at Motilal Oswal Financial Services, says in a research report. Sentiment is likely to strengthen further, with prospects of a stock-market rally pre-2024 general elections likely quite strong now, the analyst adds. Among the best performers on the benchmark index, ICICI Bank rises 2.8%, State Bank of India adds 2.8%, and Bharti Airtel is 2.8% higher. ([email protected])
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