As elections results pour in indicating a massive win for the NDA government, the stock markets have soared in an unprecedented way. Mumbai’s BSE SENSEX has crossed the 40,000 mark today by 10.30 am. As per reports, the NIFTY has crossed the 12,000 mark too.
— Reuters India (@ReutersIndia) May 23, 2019
For the first time in India’s history, the S&P BSE SENSEX has now crossed the 40,000 mark. As early trends in election results started showing a massive victory for Modi government, the SENSEX climbed over 750 points in just over an hour.
The NIFTY too has shown unprecedented gains. As per latest reports, NSE’s NIFTY had also breached the 12,000 mark, gaining by over 2%
The highest gainers in the morning trade in SENSEX were IndusInd Bank, SBI, L&T, PowerGrid, Yes Bank, Kotak Bank, ICICI Bank, RIL, HDFC, Bharti Airtel and Axis Bank, rallying up to 7 per cent.
As per the latest figures, the NDA is leading on 344 seats while the UPA and others are at 91 and 106 seats respectively.