BSE Sensex hits one-month closing high, banks surge

BSE Sensex hits one-month closing high, banks surge

MUMBAI - The BSE Sensex rose over 1 per cent on Thursday to mark its highest close in a month, as stocks of blue chips, including lenders surged after exit polls predicted a strong showing for the key opposition party in state elections held recently.

The election results are due on Sunday. Confirmation of a strong showing by the main opposition Bharatiya Janata Party would bolster its chances of a victory in the general elections due by May, according to analysts. BJP is perceived by many investors as being more business friendly.

Among lenders, ICICI Bank Ltd (ICBK.NS: Quote, Profile, Research) surged 6.53 per cent, while other large caps such as Larsen and Toubro Ltd (LART.NS: Quote, Profile, Research) ended 4.54 per cent higher.

The Sensex gained 1.2 per cent, marking its highest close since November 5, while the broader Nifty ended higher by 1.3 per cent, earlier rising as much as 2.3 per cent.

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