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Markets hit record high; Sensex surges 1422 pts

MUMBAI: Equity indices ended on a document high on Monday as buyers cheered exit poll effects that confirmed a most probably win for the ruling NDA + in the general elections.

The benchmark BSE sensex skyrocketed 1,421.90 points or three.75 consistent with cent to near at 39,352.67, whilst the wider NSE Nifty moved 421.10 points or three.69 consistent with cent to settle at 11,828.25 .

On the BSE index, SBI, IndusInd Bank, Tata Motors, L&T, Yes Bank, HDFC, M&M, Maruti, ONGC, RIL, ICICI Bank, Axis Bank, had been a few of the major gainers with their stocks surging as much as 8.51 consistent with cent.

On the other hand, Bajaj Auto and Infosys slipped by means of 1.04 consistent with cent.

The broader BSE midcap and smallcap indices ended consistent with benchmarks, rallying up to three.57 consistent with cent.

All sub-indices at the NSE Nifty finished in green with Nifty PSU Bank, Realty, Financial Services and Bank surging probably the most, up as much as 7.88 consistent with cent.

A majority of exit polls on Sunday forecast another term for Prime Minister Narendra Modi, with a few of them projecting that the BJP-led NDA will get greater than 300 seats to conveniently cross the majority mark of 272 in the Lok Sabha.

The results of the seven-phase polls will be introduced on May 23.

Analysts consider the Modi's BJP preserving power will ensure a continuation in reform measures initiated throughout the NDA's first term.

"The domestic equity markets witnessed unprecedented and remarkable surge, across all sectors and segments, after the exit polls indicated a higher probability for the current dispensation to come back to power with a clear majority," mentioned Joseph Thomas, head research- Emkay Wealth Management.

The Indian rupee additionally preferred by means of 64 paise to 69.59 in opposition to the USA buck throughout the day.

Brent crude, the global benchmark, was buying and selling at 72.61 consistent with barrel, higher by means of 1.40 consistent with cent.

(With agency inputs)

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