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Markets stage smart recovery as uncertainty over assembly elections results tapers off

Led by sharp recovery in the Sensex pack, the major gainers were Yes Bank, Sun Pharma, Asian Paints, SBIN, Axis Bank, ITC, M&M, Kotak Bank, Coal India, ONGC , TCS, Infosys ,rising by upto 7.29 percent.

Markets stage smart recovery as uncertainty over assembly elections results tapers off

New Delhi: Markets reversed its opening losses and ended green aided by outcome of election results.

However investors' sentiments remained subdued duet to news of RBI governor Urjit Patel`s sudden resignation. Meanwhile, the government is likely to make an announcement regarding Urjit Patel's successor as Reserve Bank of India's Governor later in the day, PTI quoting Finance Secretary A N Jha said. Patel's three-year term was to end in September 2019, and he was eligible for a second term like most of his successors, barring a few like his outspoken predecessor Raghuram Rajan.

The BSE Sensex jumped 190.29 points or 0.54 percent to 35,150.01 while the NSE Nifty edged higher by 60.70 points or 0.58 percent to 10,549.15 .

Led by sharp recovery in the Sensex pack, the major gainers were Yes Bank, Sun Pharma, Asian Paints, SBIN, Axis Bank, ITC, M&M, Kotak Bank, Coal India, ONGC , TCS, Infosys ,rising by upto 7.29 percent.

Bucking the trend, Tata Steel, HUL, L&T, HDFC,  Maruti, Adani Ports, ICICI Bank, HDFC Bank, Bharti Airtel, and HeroMoto Corp, fell by upto 1.58 percent.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 116.22 crore Monday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 145.80 crore, provisional data available with BSE showed.