A day after several exit polls predicted a sweep by the BJP across parts of India in the 2019 Lok Sabha elections, domestic stock markets on Monday, 20 May, closed at record highs after clocking best gains in nearly six years.
Sensex ended with a massive 1,422 points gain at 39352.67, while Nifty zoomed over 414.20 points or 3.63 percent to close at 11821.40.
The 30-share BSE index hit an intra-day high of 39,336.66, as it went up by more than 3.50 percent. The 50-share NSE Nifty too gained close to 380 points, breaching the 11,750-levels.
Earlier in the morning, Sensex opened with a gain of 770 points at 38,701.18 and extended its gains to more than 900 points within minutes. Nifty on Monday morning was trading 203.05 points, or 1.78 per cent, up at 11,610.20.
CNBC reported that this was the biggest opening gain for Nifty in absolute terms since 2014 Lok Sabha results day.
On Monday morning, all sectoral sub-indices, with the exception of Nifty IT, opened with handsome gains. The Nifty PSU Bank sub-index was up more than 4 percent while Nifty Metal was up 2 percent.
Top gainers in the Sensex pack included SBI, IndusInd Bank, Tata Motors, L&T, Yes Bank, HDFC, M&M, Maruti, ONGC, RIL, ICICI Bank and Axis Bank, rising up to 8.64 percent.
Meanwhile, the rupee also appreciated in the currency markets opening at 69.61 against the US dollar, up 0.61 paise, as compared to Friday’s closing mark.
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