Exit poll 2019 impact on stock market: The benchmark Sensex on Monday opened at 38,819.68, up by 888.91 points while the Nifty opened at 11,691.30, up by 284.15 points, a day after exit polls predicted the Narendra Modi-led NDA would win the Lok Sabha elections 2019 with a thumping majority. Indian Rupee has gained 79 paise against the US dollar.
Almost all the exit polls on Sunday predicted that the National Democratic Alliance-led by BJP will retain power with around 300 seats, more than the magic figure of 272. The exit polls also suggested that the United Progressive Alliance-led by Congress will not be able to form the government as they will win around 123 seats. If exit polls are to be believed, Prime Minister Narendra Modi is all set to retain his position.
In early trade, the BSE S&P Sensex surged as much as 919 points to hit at 38,850, while NSE Nifty climbed to 268.10 points at 11,675 level, with 45 out of 50 components trading on the green. Advances in financial, auto, energy and metal stocks supported the markets.
Indiabulls Housing Finance, State Bank of India, Grasim Industries, ICICI Bank and UltraTech Cement,
L&T, Bajaj Finance, Adani Enterprises, Yes Bank, Mahindra & Mahindra, IndusInd Bank, HPCL, BPCL, Tata Motors, ICICI Bank, HDFC Bank and Sobha were among top gainers on the 50-scrip index.
Economists expect a rally in the markets till the election results due on Thursday (May 23, 2019).