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Front Page | May 2014

Infra index in Modi zone; zooms 3%

 By Rahul Kamat

The CNX Infra Index scaled a new peak of 2833.90, up by 3.14 per cent or 86.15 basis points as a clutch of exit polls favoured the BJP-led National Democratic Alliance (saying that the combine would cross the half-way mark of 272), indicating that Narendra Modi would be the next Prime Minister.

Meanwhile, the CNX Infra index witnessed a major movement in the first half of the trading day as some stocks surged, at 4 per cent to 9 per cent, from their previous close. Typically, the index was dominated by five players that saw a major surge in their individual stock performance too. Major gainers were Adani Ports, Adani Power, Bhel, IRB, and Jaiprakash Associates.

Adani Ports was up by 9.78 per cent to Rs 224.60, whereas Adani Power was up by 6.24 per cent to Rs 52.80. Meanwhile, BHEL zoomed by 9.44 per cent to Rs 214.40 and IRB was at its best with Rs 157.05, up by 5.94 per cent and Jaiprakash Associates was up by 5.29 per cent to Rs 62.65.

According to an analyst, the momentum will continue till election results are declared on 16th May.    

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