{"id":65184,"date":"2024-06-04T00:46:43","date_gmt":"2024-06-04T00:46:43","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/04\/sensex-vaults-2500-points-on-exit-poll-forecast-of-big-win-times-of-india\/"},"modified":"2024-06-04T00:46:43","modified_gmt":"2024-06-04T00:46:43","slug":"sensex-vaults-2500-points-on-exit-poll-forecast-of-big-win-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/04\/sensex-vaults-2500-points-on-exit-poll-forecast-of-big-win-times-of-india\/","title":{"rendered":"Sensex vaults 2,500+ points on exit poll forecast of big win – Times of India"},"content":{"rendered":"
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MUMBAI: Dalal Street bulls were on a rampage on Monday. Backed by exit poll estimates that showed the BJP-led govt would return to office at the Centre for the third time that would ensure policy continuity, sensex gained a massive 2,507 points \u2014 it\u2019s biggest-ever gain in a single day, to close at 76,469 points, a new all-time closing peak. Sensex\u2019s 3.4% gain is also the biggest in a single day in over three years, BSE data showed.
The day\u2019s rally made investors richer by Rs 13.8 lakh crore, its biggest single-session jump, with BSE\u2019s market capitalisation now at Rs 432 lakh crore, translating to $5.2 trillion.Investors\u2019 wealth, too, is at a new all-time high level.
On NSE, nifty gained 733 points, again its biggest daily gain, to 23,264 points, its highest-ever close.<\/p>\n
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These records on Dalal Street were created after over a month\u2019s nervousness during Lok Sabha polls when investors felt jittery at times from narratives that doubted the ability of the BJP-led govt to return to office with a strong majority. On Saturday, after the end of the seven-phase election, all exit polls<\/a> predicted a good majority for NDA alliance.
As a result, India VIX, the measure of market volatility that had peaked at 24.8 points on Thursday, fell 22% to 19.2 in Monday\u2019s unidirectional session.
According to Ajit Mishra, SVP – Research, Religare Broking, the markets started the new week strongly and leading indices gained over 3% primarily due to exit poll numbers that indicated political stability.<\/p>\n

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However, volatility could return during Tuesday\u2019s session, Mishra cautioned. \u201cAs we await the official election results, significant volatility is expected.\u201d
During the day\u2019s session, PSU stocks led with BSE\u2019s PSU index closing 7.7% higher. Analysts expect these stocks, like in the last two years, could gain from the govt\u2019s policies and return superior profits.
The rally could extend after the election results are out on Tuesday. \u201cIf the actual election results (on June 4) align with what exit polls are suggesting, it is expected that India will experience a period of political stability, clear policy direction and ongoing impetus on infrastructure and capex investments,\u201d Pranav Haridasan, MD & CEO, Axis Securities said.
\u201cThis stability is key to maintaining the current, high economic growth cycle. Moreover, there’s an expectation that private sector investments, which have been low in recent years, will increase. Keeping these factors in mind, the market is expected to remain bullish and continue its upward growth trajectory.\u201d
During Monday\u2019s session, foreign funds, which were net sellers of domestic stocks for nearly two months, turned a big buyer. The day\u2019s net foreign fund buying of stocks was Rs 6,851 crore, the biggest such number in nearly two months, BSE data showed.
Of the 30 sensex stocks, 25 closed with gains. Among these stocks SBI, Reliance Industries, Powergrip Corp and some others recorded new all-time peak prices.<\/div>\n