Stocks added Rs 318,000 crore to investor kitty in one minute on Dalal Street on Monday. It was the impact of a landslide victory for NDA projected by exit polls in just concluded the Lok Sabha elections. The exit poll results came in better than market expectations.
It is worth mentioning that domestic financial markets on Monday cheered exit poll results, which showed the ruling NDA is likely to win the general elections with bumper majority. BSE Sensex skyrocketed 942 points, and the rupee appreciated 79 paise against the US dollar.
After rising high over 962 points in early session, the 30-share index pared some gains and was trading 687.63 points, or 1.81 per cent, higher at 38,618.40. In similar movement, the broader NSE Nifty was trading 203.05 points, or 1.78 per cent, up at 11,610.20.
Top gainers in the Sensex pack include Maruti, L&T, SBI, ICICI Bank, RIL, M&M, IndusInd Bank, Axis Bank, Yes Bank and Vedanta, rising up to 4 per cent. On the other hand, Bajaj Auto, Infosys and HCL Tech slipped up to 2 per cent.