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Sensex surges 950 points as exit polls predict NDA’s return to power

Benchmark Indices Are Trading Higher In The Pre-opening Session With Nifty Around 11,700

News Nation Bureau | Edited By : Fayiq Wani | Updated on: 20 May 2019, 10:14:38 AM
The Sensex is up 558.40 points or 1.47 per cent at 38489.17, and the Nifty up 281.60 points or 2.47 per cent at 11688.80

New Delhi:

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.

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First Published : 20 May 2019, 10:08:55 AM