Sensex, Nifty spike as Exit Polls predict BJP win
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Mumbai: As Exit Polls predicting Modi government to retain power, Indian equity benchmarks opened at an all-time high on Monday. Sensex opened almost 2600 points higher at 76,582 points and Nifty opened almost 800 points higher at 23,338 points.
At 9:50 a.m., Sensex was at 75,818, up 1,857 points or 2.51 per cent and Nifty was at 23,115, up 584 points or 2.59 per cent. There is a positive trend in the market as 1,983 shares are trading up while 177 shares are trading in the red on NSE.
Midcap and smallcap shares are also trading higher on Monday. The Nifty Midcap 100 index is trading at 53,012 points, up 1,306 points or 2.53 per cent, and the Nifty Smallcap 100 index is trading at 17,050 points, up 366 points or 2.20 per cent.
All the market indices are trading in the green. Auto, PSU Bank, Fin Service, Metal, Realty, Energy, PSE and Infra indices were major gainers. All 30 Sensex stocks are trading in the green. Power Grid, NTPC, M&M, L&T, SBI, IndusInd Bank, UltraTech Cement, Axis Bank and Airtel are the top gainers.
Market experts said that Fundamentals, technicals and sentiments turning favourable at the same time are rare in the market. This is what has happened now. "The market went into the big event, like elections. Nifty corrected around 600 points from the May highs. Profit booking also happened on a large scale. The short position in the market also is high," they added.
Source: IANS