Amidst the opening bell of trading on Monday, the primary equity gauges Sensex and Nifty experienced a robust surge, marking an impressive ascent of nearly 4 percent, thus reaching unprecedented zeniths. This notable upswing followed the dissemination of exit polls prognosticating a sweeping triumph for the BJP-led NDA in the Lok Sabha elections. The bellwether 30-share BSE Sensex catapulted by 2,777.58 points, constituting a formidable surge of 3.75 percent, culminating in a historic pinnacle of 76,738.89 during the initial hours of trading.
Simultaneously, the NSE Nifty exhibited a vigorous rally, catapulting by 808 points, reflecting an impressive uptick of 3.58 percent, to attain an uncharted zenith of 23,338.70. The Saturday exit polls heralded a continuation of Prime Minister Narendra Modi’s tenure for a third consecutive term, with the BJP-led NDA poised to clinch a resounding majority in the Lok Sabha elections.
The electoral mandate will unravel on June 4, unveiling the electoral fate. Notably, all constituent entities of the 30-Sensex ensemble depicted bullish momentum. Foremost among the gainers were Power Grid, NTPC, Larsen & Toubro, State Bank of India, Axis Bank, IndusInd Bank, ICICI Bank, and Mahindra & Mahindra.
India’s economic trajectory showcased an impressive growth trajectory, registering an expansion of 8.2 percent in the fiscal year culminating in March, thereby fortifying its stature as the swiftest-expanding major economy across the globe. Across the Asian bourses, Seoul, Tokyo, and Hong Kong resonated with upward movements, while Shanghai bucked the trend, exhibiting a downturn.
On the other side of the globe, U.S. markets concluded the week on a mostly upbeat note. Institutional investors from overseas injected capital amounting to Rs 1,613.24 crore into equities on Friday, as per exchange data. Meanwhile, the global oil benchmark Brent crude experienced a marginal dip of 0.04 percent, settling at USD 81.08 per barrel.
Closing the week’s trading session, the BSE benchmark registered a marginal uptick of 75.71 points, or 0.10 percent, culminating at 73,961.31. Likewise, the Nifty witnessed a modest advancement, registering an increase of 42.05 points, or 0.19 percent, to wrap up at 22,530.70.