Markets celebrate exit poll predictions

SENSEX, NIFTY HIT LIFETIME HIGHS; INVESTORS GAIN RS 13.78 LAKH CRORE

After exit polls predicted a third consecutive term for the Modi government, the benchmark indices Sensex and Nifty surged more than 3 per cent on Monday, marking their largest singleday gain in three years and closing at record highs. This rally boosted investors' wealth by Rs 13.78 lakh crore.

The 30-share BSE Sensex soared 2,507.47 points, or 3.39 per cent, to a new closing high of 76,468.78 points, with 25 of its constituents closing in the green and five in the red. During the session, the Sensex surged 2,777.58 points, or 3.75 per cent, to reach an intra-day peak of 76,738.89.

Similarly, the NSE Nifty climbed 733.20 points, or 3.25 per cent, to close at 23,263.90. It also reached an intra-day high of 23,338.70, up 808 points, or 3.58 per cent.

These gains were the largest for Sensex and Nifty since February 1, 2021, when the indices jumped nearly 5 per cent following the budget presentation. Notably, both indices had previously risen more than 3 per cent on May 20, 2019, after exit polls forecasted a significant victory for the BJP-led NDA in the 2019 general elections.

On the BSE, 2,346 stocks advanced, 1,615 declined, and 154 remained unchanged.