BSE PSU index zooms over 6% to all-time high as exit polls project BJP-led NDA's victory

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₹558 per share. Similarly, REC, another power financing stock, soared by 11.70% to achieve a fresh record high of ₹600 per share.

Following suit, Power Grid Corporation shares also climbed by 12.50% to hit a new peak of ₹348.7 per share.Also Read: Nifty PSU Bank rockets over 5% to record high; 5 stocks at new 52-week highsThis strong rally propelled the Power Grid market capitalisation beyond the ₹3 lakh crore mark for the first time. At the time of writing this report, all 56 constituents of the index were trading in the green.Analysts had earlier indicated that a victory for Modi predicted in the exit polls, paving the way for his third term, could result in policy continuity, macroeconomic stability, and potential structural reforms.

These factors are anticipated to have a positive impact on Indian financial markets.The majority of exit polls indicated that the BJP-led NDA will comfortably secure between 350 and 390 seats of the 543 seats in the Lok Sabha, the lower house of India’s Parliament.Also Read: Lok Sabha Elections 2024 trading strategy: Is Nifty 50 set to scale new heights after poll results?A party or coalition needs 272 seats in the parliament to form a government. The BJP-led coalition, the National Democratic Alliance (NDA), is likely to cross this target, according to exit polls, which forecast it being close to taking about two-thirds of the seats.The expectation that the BJP will come to power in the Lok Sabha elections was strengthened by its victory in three key state elections out of four in December.