Sensex zooms 1,318 points as exit polls predict clear win for BJP-led NDA

In intraday trade, Sensex touched 39,249.76, up by 1,318.99 points on Monday.  In similar movement, the broader NSE Nifty soared 393.95 points, or 3.45 per cent, to 11,801.10. Top gainers in the Sensex pack include SBI, Yes Bank, Tata Motors, L&T, ICICI Bank, IndusInd Bank, ONGC, Maruti, M&M, Axis Bank, RIL, Hero MotoCorp, HDFC, Vedanta, Asian Paints, Tata Steel and Bajaj Finance, rising over 7 per cent. A day after exit poll predicted victory for the BJP-led NDA, the benchmark Sensex surged as much as 962.12 points to hit 38,892.89 and the Nifty climbed 281.60 points or 2.47 per cent to 11688.80 in the opening trade.

The Indian rupee gained in the early trade on Monday. It opened higher by 73 paise at 69.49 per dollar on Monday versus previous close 70.22. On Friday, the benchmark S&P BSE Sensex ended 1.24 per cent higher at 37,931, while broader Nifty50 ended at 11,407 mark, up 1.13 per cent.

On Sunday it was predicted that Bharatiya Janata Party’s (BJP) Narendra Modi is set to return as Prime Minister for the second term on May 23 when the results of the Lok Sabha elections 2019 will be announced, according to the News Nation exit poll on Sunday.

The channel predicted that the BJP-led National Democratic Alliance (NDA) will win anything between 282 and 290 seats, while the Congress-led United Progressive Alliance (UPA) may garner a maximum of 126 seats.

Interestingly, Others will perform better than the UPA with the maximum of 138 seats. The NDA won 336 seats in the 2014 Lok Sabha polls, while the UPA, which had been in power for two straight terms, was reduced to 59.