Mumbai: Indian shares surged to record highs on Monday following exit polls projecting a third term for Prime Minister Narendra Modi’s government and a high GDP growth in the 2023-24 fiscal. The Nifty 50 jumped 3.58% and the Sensex gained 3.55%, hitting all-time highs, with the best intraday gains since February. At 13.30 hrs the Sensex was at 76,300 points, a rise of 2322 points or 3.16% and Nifty was at 23229.65 points, a rise of 698.95 points or 3.10%.
All major sectors rose, with small- and mid-caps also seeing significant gains. The polls, indicating a likely two-thirds majority for the ruling party, boosted market sentiment despite their historically mixed accuracy.
Highlights :
- Sensex, Nifty at all-time high levels
- Nifty registers biggest gap-up opening in 4 years
- Nifty Bank crosses 50,000 for first time
- Investors add Rs 11 lakh crore to wealth
- Adani stocks zoom up to 16%