Indian shares ended little changed on Thursday after two consecutive sessions of declines, as sentiment remained subdued ahead of the results of state elections, including that of the country's most populous state of Uttar Pradesh. The broader NSE index closed up 0.03 percent at 8,927, while the benchmark BSE index ended 0.09 percent higher at 28,929.13. Exit polls are due out around 1730 local time (1200 GMT) and the results will be announced on Saturday.
Actual results will be announced on Saturday, and will help to shape the next two years of Modi's government as it heads for the 2019 general election. "Markets are trading very cautiously ahead of the exit poll results this evening," said Neeraj Dewan, director at Quantum Securities. "A BJP win could take the market very close to the new high." Among the losers, Dr Reddy's Laboratories Ltd fell as much as 4.65 pct to its lowest since August 2014 after the US drug regulator issued form 483 with 13 observations for a manufacturing facility at Visakhapatnam in the southern state of Andhra Pradesh. GAIL (India) Ltd declined as much as 5.13 pct to its lowest since February 15, as shares of the integrated energy company started trading ex-bonus.
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