Key benchmark
indices surged in early trade after the main opposition party, the Bharatiya
Janata Party (BJP), late on Friday, 13 September 2013, named Gujarat chief
minister Narendra Modi as the party's prime ministerial candidate for the
general elections in 2014. The stock market cheered Modi's appointment as BJP's
prime ministerial candidate given Modi's pro-business record as chief minister
of Gujarat.
The Sensex was
up 304.28 points or 1.54%, up close to 65 points from the day's low and off
about 50 points from the day's high. The market breadth, indicating the overall
health of the market, was strong.Among the 30-share Sensex pack, 29 stocks
gained and only one declined. L&T (up 2.73%), ONGC (up 2.72%) and Jindal
Steel & Power (up 2.39%), gained.
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