June 3, 2024
New Delhi, India
Exit Polls 2024: Markets at all time highs
The Indian stock market reached new all-time highs today, driven by the positive sentiment from the Lok Sabha 2024 exit polls, which predict a third term for Prime Minister Narendra Modi’s government.
As of now, the BSE Sensex surged by 2,621.98 points (3.55%) to 76,583.30, and the Nifty50 climbed 807.20 points (3.58%) to 23,337.70. Both indices hit record highs with Sensex touching 76,738.89 and Nifty50 reaching 23,338.70 earlier in the day.
All sectors are performing strongly, with financials, public sector banks, energy, and oil & gas sectors leading the gains. Notably, the Nifty Bank index also surpassed the 50,000 mark for the first time. Among the top performers are Adani Ports and Adani Enterprises, which saw increases of 8.5% and 6.7% respectively.
The rupee also opened stronger at 82.99 against the US dollar, compared to the previous close of 82.46. This bullish trend in the stock market reflects investors’ optimism about the continuity of economic reforms and fiscal policies under Modi’s government.
(more to come)
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