Lok Sabha elections results 2019: Market expert sees upside for Muthoot Finance stock

After early Lok Sabha elections results trends show that the BJP-led National Democratic Alliance (NDA) is winning with a brute majority, most of the stocks have moved into the positive zone, with Sensex and Nifty crossing the psychological levels of 40,000 and 12,000, respectively. Experts have also taken bullish stance on some stocks and market expert Sandeep Wagle sees an opportunity in  Muthoot Finance. 

The share hit its 52-week high of Rs 642.90 today. Its 52-week low is 356.55.  Wagle has given a buy call for Muthoot Finance. This stock may go up to Rs 660, he adds. He sees further upside in the coming days. At 11:12 am, the stock was trading at 628.90 or 1.6 percent up. Wagle said that  there might be over 3 percent upside in this stock. 

Notably, BSE Sensex today hit the high of 40,124.96 points. Most of the stocks have advanced today, with IndusInd Bank, YES Bank, L&T, SBI, ICICI, and PowerGrid trading over 3 percent up at 11:42 am in the Sensex pack.

In the benchmark Nifty pack, Adani ports, InduInd Bank, YES Bank, and BPCL are the top gainers. However, some of the weighty stocks like ITC, VEDL, Hindalco, TCS, and Sun Pharma contained the Nifty rise to some extent.  Indian Rupee also opened higher today following the Lok Sabha elections 2019 trends.