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Equities trade strong as initial trends give BJP the lead

Equity markets opened strong on Thursday as initial trends showed the Bharatiya Janata Party (BJP) heading towards a strong majority – in line with most exit polls.

At 9.55 a.m. on Thursday, the benchmark Sensex was trading at 39,833, up 722 points or 1.85%. The broader Nifty gained 214 points or 1.82% to touch 11,952.

Interestingly, India VIX index, which is looked upon as a barometer of near term volatility, dropped by over 26%.

The market breadth was also strong with more than 1,200 stocks gaining ground as against 372 declines.

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