Sensex jumps high due to exit poll result | Fusion - WeRIndia

As the survey of exit polls has been revealed that the NDA government will come back to power with a huge majority in the elections, the Sensex rose to more than 1,422 points. The NSE Nifty also surged 421 points.

It is the biggest one-day gain in 10 years

The exit polls stated that the Modi-led NDA government would win over 300 seats in the Lok Sabha elections.

Several reforms have been initiated in the first term of NDA government and the analysts believe that they would be continued in this term also.

Banking and auto shares led the rally.

The main gainers due to the upsurge of the Sensex are SBI, IndusInd Bank, Yes Bank, HDFC, ICICI Bank Axis Bank, Tata Motors, L&T, M&M, Maruti, ONGC, and RIL with up to 8.64 per cent.

The broader BSE midcap and smallcap indices ended corresponding to benchmarks, with up to 3.57 per cent.

Domestic equity markets have seen a remarkable surge in all sectors and segments after the announcement of exit polls which revealed a higher probability for the current government to come back to power again with a clear majority.

As per analysts, certain factors like decisive policy initiatives, faster land and labour reforms, and re-organization of the banking system are essential for markets to sustain.

The Indian rupee value was also appreciated by 64 paise to 69.59 against the US dollar. Brent crude, the global benchmark was trading higher by 1.40 per cent at 72.61 per barrel.

In the meantime, SEBI and stock exchanges have increased their surveillance to keep track of any manipulative activities in the market this week.

Image credit: Image by Gerd Altmann from Pixabay (Free for commercial use)

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