Sensex jumps over 800 points as exit polls suggest NDA's victory
The exit poll results, which have showed a winning of BJP-led NDA in the 17th Lok Sabha elections, are expected to have positive impact on the Stock market.
Exit poll trends will set the tone for the equity markets in the initial part of the week, while the final outcome of the general elections on May 23 would build the road ahead for stocks, analysts said.
The benchmark BSE Sensex jumped over 800 points and the NSE Nifty reclaimed the 11,600 level in early trade on Monday amid exit poll showing victory of BJP-led National Democretic Alliance (NDA).
The 30-share index was trading 813.24 points, or 2.14 per cent, higher at 38,744.01. The broader NSE Nifty was also trading 233.85 points, or 2.05 per cent, up at 11,641.00.
On Friday, the 30-share benchmark closed 537.29 points, or 1.44 per cent, higher at 37,930.77. Similarly, the broader Nifty rose 150.05 points, or 1.33 per cent, to settle at 11,407.15.
"Indian markets have shown tremendous strength before the long-awaited exit polls, despite the ongoing ambiguity in US-China trade talks," said Jagannadham Thunuguntla, Senior VP and Head of Research (Wealth), Centrum Broking Limited.
PostedOn: 20 May 2019
Total Views: 172