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Sensex gains over 200 pts, Nifty above 10,400 as BJP leads in Gujarat, Himachal

Equity benchmarks stated off the week sharply lower on Monday as latest voting counts indicated that BJP is leading in both states (Gujarat and Himachal Pradesh) but with small margin.

The 30-share BSE Sensex was down 740.11 points or 2.21 percent at 32,722.86 and the 50-share NSE Nifty fell 208.80 points or 2.02 percent to 10,124.50.
Out of 30 stocks, only 1 stock is trading in green, which is Cipla after getting tentative approval from the US Food and Drug Administration for HIV drug, Darunavir hydrate (75-800 mg).

About five shares declined for every share rising on the BSE.

The Indian rupee was sharply lower by 25 paise to 64.29 against the US dollar in early trade, following weakness in equity markets.

Asian markets were mixed amid optimism that a plan to reduce corporate taxes would be passed in the US.

Reliance Industries, HDFC Bank, ICICI Bank, HDFC, IOC, ITC, Adani Ports, Tata Motors, Bajaj Finance, Vedanta and SBI were down 2-5 percent.

In opening, the rupee plunged 68 paise to 64.72 against the dollar today after early trend suggested that the BJP and the Congress are neck and neck in Gujarat Assembly sweepstakes after one hour of counting of votes.

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