Share Market Live:  Benchmark indices opened at record high on May 23, the counting day for Lok Sabha Election 2019, with strong possibility of the BJP returning to power for the second five-year term and a stable goverment at the centre. BSE S&P Sensex is trading at 39,918 level, after climbing 808 points or 2.07 per cent, while NSE Nifty is trading up by 236.30 points or 2.01 per cent, at 11,974.20 level.

On the counting day of May 16, 2014, the BSE Sensex surpassed the psychological level of 25,000 for the first time, hitting a lifetime high of 25,375.63 after result showed the NDA was all set to form the next government

Drug major Cipla Wednesday reported over two-fold jump in consolidated net profit to Rs 357.68 crore for the fourth quarter ended March 31, mainly on account of robust sales across markets. In a separate filing, Cipla said its board has approved raising funds up to Rs 6,000 crore.

As per the Indian Oil Corporation data, petrol remained unchanged at Rs 71.17 per litre in Delhi, while diesel stood at Rs 66.20 per litre on Wednesday.

At the Interbank Foreign Exchange market, rupee was trading at 69.69 against the US dollar, up 0.06 per cent, against its previous close of 69.72

Share Market Update:  Indian Benchmark indices extended gains in the afternoon session to close on the positive side, backed up by gains in Bank, Realty, Auto and Financial Services. However, India Vix index, that subjects volatility in the market, was up at 27, ahead of counting of Lok Sabha Election 2019 to be done on May 23.

The Council predicts Indian demand for gold at 750-850 tonnes 2019, against 760 tonnes in 2018. The June quarter is expected to see brisk business on the back of the traditional wedding season buying and the Akshaya Tritiya festival.

Petrol and Diesel prices increased for the second consecutive day after the conclusion of Exit Polls for Lok Sabha Elections 2019 wrapped up. Petrol prices rose about 8-10 paise, while diesel rose 15-16 paise across the major cities in India on Tuesday.

At the Interbank Foreign Exchange market, rupee opened marginally lower at 69.75 against the US dollar; the local unit rose 6 paise to 69.80 in early trade against its previous close of 69.74

Share Market Update: Market Breadth was in favour of sellers, as 1134 stocks declined on NSE against 509 advancing stocks, while 75 remained unchanged. Similarly, 1608 stocks were declining on BS against 936 adavcing stocks, while 143 remained unchanged.

The biggest move was seen on Nifty PSU banks that closed at 7.88 per cent gain, followed by realty that closed with a gain of 5.72 per cent