Sensex, Nifty hit all-time high levels as exit polls predict massive win for BJP-led NDA in LS Elections 2024

The BSE Sensex surged by 2,777.58 points or 3.75% to reach an all-time high of 76,738.89, while the NSE Nifty rallied 808 points or 3.58% to hit a fresh peak of 23,338.70.

Benchmark equity indices Sensex and Nifty soared nearly 4% in early trading on Monday, reaching record highs following exit polls indicating a significant victory for the BJP-led NDA in the Lok Sabha elections 2024.

The BSE Sensex surged by 2,777.58 points or 3.75% to reach an all-time high of 76,738.89, while the NSE Nifty rallied 808 points or 3.58% to hit a fresh peak of 23,338.70.

Exit polls suggested Prime Minister Narendra Modi's potential re-election for a third consecutive term, with the BJP-led NDA poised to secure a substantial majority in the Lok Sabha polls. Vote counting is scheduled for June 4.

All 30 companies in the Sensex were trading positively, with notable gains seen in Power Grid, NTPC, Larsen & Toubro, State Bank of India, Axis Bank, IndusInd Bank, ICICI Bank, and Mahindra & Mahindra.

India's economy demonstrated robust growth, expanding by 8.2% in the fiscal year ending in March, solidifying its position as the world's fastest-growing major economy.

In Asian markets, Seoul, Tokyo, and Hong Kong witnessed gains, while Shanghai saw a decline. Meanwhile, US markets closed mostly higher on Friday.

Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,613.24 crore on Friday, according to exchange data.

The global oil benchmark, Brent crude, experienced a marginal decrease of 0.04% to USD 81.08 per barrel.

On Friday, the BSE benchmark edged up by 75.71 points or 0.10% to settle at 73,961.31, while the Nifty rose by 42.05 points or 0.19% to close at 22,530.70.