Sensex touched its lifetime peak of 76,738 intraday post-exit poll projections. Well, not only this – markets saw a bumper rally on Monday.
Nifty50 and BSE’s Sensex both closed at record highs, hitting over 23,250 and 76,400 mark, respectively. This surge came after exit polls over the weekend projected a third term for Prime Minister Narendra Modi’s government in the recently concluded general elections.
Sensex rose 2,507 points and closed at 76,469. The broader NSE Nifty gained 733 points and ended at 23,264.
The market capitalisation of all listed companies on BSE surged by Rs 14 lakh crore to Rs 426.1 lakh crore.
Sectors
All major sectors advanced. Financials climbed 4% to a record high, while public sector banks surged 8.4%. Nifty Oil & Gas also gained about 6.8%, while Nifty Realty surged nearly 6%. The broader, more domestically-focused small- and mid-caps gained about 2.4% and 3.2% respectively.
WHAT EXIT POLLS SAY:
Almost all exit poll surveys indicate that the BJP is likely to win the Lok Sabha election on June 4th. The average of all major exit polls suggests that the BJP-led NDA will secure 374 seats.
Data on Friday, which showed the economy grew a better-than-expected 7.8% in the January-March quarter, also helped sentiment.
Top gainers and losers:
Adani Ports (10.20%)
NTPC (9%)
SBI(9%)
Power grid (8.9%)
Losers were Eicher motors, LTI mindtree, HCL tech and Asian Paints
The result of Lok Sabha election is due on June 4th when India will know whether BJP will be winning for the 3rd time or not.
