Stock Market Today: Nifty 50, Sensex Hit All-Time Highs After Exit Polls Show BJP-Led NDA Majority

Stock Market Today: Nifty 50, Sensex Hit All-Time Highs After Exit Polls Show BJP-Led NDA Majority

Indian stock market benchmarks, the Nifty 50 and the Sensex, surged to record-high levels in early trade on Monday, June 3. This followed a majority prediction from exit polls on Saturday, 

June 1, suggesting that the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) could win over 350 seats in the 2024 Lok Sabha elections.

The Sensex opened 2,622 points higher at 76,583.29, up from its previous close of 73,961.31, and reached a peak of 76,738.89, marking a 3.8% increase

Similarly, the Nifty 50 opened 807 points higher at 23,337.90, surpassing its previous close of 22,530.70, and reached a new high of 23,338.70, a rise of 3.6% in early trading.

Investors showed strong buying interest across all sectors, driving the midcap and smallcap indices up by nearly 4% each. The BSE Midcap index surged 4% to an all-time high of 44,560.97, while the BSE Smallcap index rose by a similar margin to a record high of 48,973.96.

Nearly 200 stocks, including SBI, ICICI Bank, Axis Bank, Bharti Airtel, Larsen and Toubro, Mahindra and Mahindra, NTPC, and Power Grid, hit fresh 52-week highs during intraday trading on the BSE on Monday

In contrast to the volatility seen in May due to election-related uncertainty, when both the Nifty 50 and Sensex closed in negative territory, the market today is experiencing a strong bullish trend.

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