Stock market extends winning steak; PSU bank at new high
Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.
Extending their rally to the third straight day, Indian equity indices touched all-time highs on Tuesday after the exit polls predicted a comfortable victory for the BJP-led NDA government in the 2019 Lok Sabha elections.
The S&P BSE Sensex rose as much as 219.06 points to an all-time high of 39,571.73 in early trade breaching its previous highest mark of 39,487, while the NSE Nifty moved to a record 11,883.55, up 55.3 points from the previous close.
Top gainers on the 50-scrip index at the time were HDFC, Adani Ports, Dr Reddy’s, HUL and Bajaj Finance.
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The Rupee opened at Rs 69.74 against the US dollar.
On Monday, the Sensex jumped by a healthy 1421.90 points or 3.75 per cent, closing at 39,352.67. The Nifty advanced by a massive 421.10 points to 11,828.25, its largest gain since 2008.
Markets favour a stable government and until Sunday owing to uncertainty over the general election, trading was marked by heavy volatility.
Even the grounded Jet Airways jumped by 5.88 per cent to Rs 131.40 a share.
Most exit polls conducted by different organisations have given the BJP-led NDA full majority, even as opposition parties are dismissing these predictions.
The majority mark is 272.
The results of the polls will be declared on May 23.
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