Share Market Today: Sensex Jumps 2,500 Points, Nifty Goes Up By 1,000 After Exit Polls Predict Win For BJP

After the Exit poll results, which favour the ruling Narendra Modi government, share market on Monday opened at all-time high. Sensex jumped 2,500 points and Nifty shoot up to 1,000 points. The bullish trend was powered by data shared by news agencies and poll masters that shows a landslide victory with 400+ seats to the saffron front, while Opposition continues to struggle.

Thanks to value-buying in banking and oil shares, the stock markets broke their five-day losing streak on Friday after BSE Sensex closed 75 points higher.

The 30-share BSE Sensex increased by 75.71 points, or 0.10 percent, to settle at 73,961.31. During the session, it reached a high of 74,478.89 points and a low of 73,765.15 points. Halting its five-day losing streak, the 50-share NSE Nifty rose by 42.05 points, or 0.19 percent, to end at 22,530.70.

Nifty and Sensex had dropped more than 2 percent in the five days leading up to Thursday amid high volatility ahead of the Lok Sabha poll results.

"The pre-election trading strategy has concluded, and all attention is now on the release of the exit polls for further action. Regional disparities, slightly lower voter turnout, and strong resistance at the current range are causing investors to adopt a cautious approach," said Vinod Nair, Head of Research at Geojit Financial Services.

From the Sensex pack, gainers included Tata Steel, Bajaj Finance, HDFC Bank, Power Grid, IndusInd Bank, Larsen & Toubro, and ICICI Bank. Conversely, Nestle India, Tata Consultancy Services, Maruti Suzuki India, Infosys, Axis Bank, and Hindustan Unilever were among the laggards. Asian markets, including Shanghai, Tokyo, Seoul, and Hong Kong, closed on a mixed note.

European stock markets were trading lower, and major indices on Wall Street ended lower on Thursday. The global oil benchmark Brent crude fell by 0.40 percent to USD 81.53 a barrel. Foreign Institutional Investors (FIIs) sold equities worth Rs 3,050.15 crore on Thursday, according to exchange data.