Exit Poll Euphoria: Investor wealth catapults by Rs 14 lakh crore as Sensex, Nifty hit record highs on election result eve

economictimes.indiatimes.com:

Sensex closed at record highs, hitting over 23,250 and 76,400 mark, respectively, on Monday. This surge followed exit polls over the weekend projecting a third term for Prime Minister Narendra Modi's government in the recently concluded general elections.

The 30-share BSE benchmark Sensex advanced 2,507 points or 3.4% to settle at 76,469. The broader NSE Nifty gained 733 points or 3.25% to end at 23,264.

Meanwhile, the market capitalisation of all listed companies on BSE surged by Rs 14 lakh crore to Rs 426.1 lakh crore.

All major sectors advanced. Financials climbed 4% to a record high, while public sector banks surged 8.4%. Nifty Oil & Gas also gained about 6.8%, while Nifty Realty surged nearly 6%. The broader, more domestically-focussed small- and mid-caps gained about 2.4% and 3.2% respectively.

Almost all exit poll surveys indicate that the BJP is likely to win the Lok Sabha election on June 4th. The average of all major exit polls suggests that the BJP-led NDA will secure 374 seats.

More to come.....