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"Markets will first react to Reliance Industries earnings and monthly auto sales numbers in early trade," said Ajit Mishra, Religare Broking
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Though the elections are essentially for state legislatures, the outcome in the five states will also partially reflect a signal of the confidence these five states repose on the ruling party at the Centre.
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The BSE Smallcap index rallied nearly 5% to 21,670, while the BSE Midcap index advanced 0.65% to 20,312.20.
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While the institutional players are busy picking a side in the markets, retail investors are weighing upon Q4 results and are taking stock-specific positions
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Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for April
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Net profit of Jio Platforms increased by 47.50% YoY to Rs 3508 crore in Q4FY21 against Rs 2379 crore in Q4FY20
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The issue received bids for 25.81 crore units as against 42.54 crore units on offer.
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The private sector lender Yes Bank on Friday posted a whopping standalone net loss of Rs 3,788 crore for the fourth quarter ended March 2021.
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The 30-share Sensex tanked 983.58 points, or 1.98%, to 48782.36 due to heavy selling in banking and financial majors.
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The biggest surprise in Bajaj Auto results was 7% rise in average realisation per unit because of better product mix and price hikes