All Gujarat public sector companies’ stocks gained strength on Friday after the exit polls showed continuation of BJP rule in the State for the next five years.
The stocks of the leading State PSUs such as Gujarat Gas, Gujarat Mineral Development Corporation, Gujarat State Fertilizers & Chemicals, Gujarat State Petronet, Gujarat Alkalies & Chemicals and Gujarat Narmada Valley Fertilizers & Chemicals which have been on a decline after the political campaigning by the Congress and its allies, rallied on Friday to gain 1-6.5 per cent. All the stocks made a gap-up opening. The benchmark index, S&P BSE Sensex gained 0.65 per cent or 216 points to close at 33,462.97 on Friday.
The electoral nervousness had gripped investors in the PSU stocks, which had witnessed a decline during the campaigning period.
The decline continued between the period of the first and the second phases of polling with stocks losing in the range of 1 to 3 per cent.
Exit polls have predicted a BJP victory with seats in the range of 99-135 in the 182-seat Assembly.