Exit Poll- Modi coming back “Sensex” Boom

Npnews24 online: “SENSEX” boom soon after exit poll predict Modi led NDA government predicted coming into power, immediate after investor wealth soared by more than Rs 5.33 lakh crore as the benchmark BSE sensex sprinted more than 1,422 points+ on Monday.

Tracking the sharp uptrend in equities, the market capitalization of BSE-listed companies jumped by Rs 5, 33,463.04 crore. At the end of Monday’s trading session, the market capitalisation of BSE-listed companies stood at Rs 1, 51, 86,312.05 crore against Rs 1, 46, 58,709.68 crore on Friday.

This is the third consecutive session of gain for domestic stocks and in these three sessions the market capitalization jumped by Rs 7.48 lakh crore.

BSE Sensex zoomed past the 39,300 mark, over 1,422 points and NSE Nifty reclaimed 11,800 level Monday as investors cheered the outcome of exit polls that predicted a clear majority for the ruling NDA in recent general elections.

“The exit polls would be seen as a modest positive for the Indian stock market as the market was largely factoring in the return of the BJP-led NDA government,” Kotak Institutional Equities said in a research note.

The report noted that market is largely factoring in return of BJP-led government. “We could see a small rally post May 23 election results if the results are in line with the market’s expectations,” it noted.

Meanwhile, in the forex market, the rupee strengthened and was trading higher by 58 paise to 69.65 against the dollar.