Record-Breaking Surge: Sensex and Nifty Skyrocket to All-Time Highs Post BJP’s Triumph in Assembly Polls
On Monday, the Bombay Stock Exchange’s Sensex saw a sharp increase of 1383.93 points, following the BJP’s victory in the elections in Chhattisgarh, Madhya Pradesh, and Rajasthan the day before. The index reached a peak of 68,865.12 points throughout its history. Additionally, the Nifty of the National Stock Exchange closed at a record 20,686.80 points, up 418.90 points.
Strong macroeconomic data, the ease of achieving global health rates, low crude oil prices, and increased investor sensitivity following the BJP’s victory all contributed to the exuberant mood that underpinned these record highs.
The Sensex of the Bombay Stock Exchange increased by 2.05%, while the Nifty of the National Stock Exchange increased by 2.07%. Additionally, these two benchmarks recorded their best sessions in over a year and a half. Senior vice president and head of capital markets Gaurav Dua
strategy at Sharekhan, informed Outline that improved global conditions, robust macroeconomic statistics, and political outcomes influenced by state legislature elections have all contributed to a surge in investor inflows. He predicted that Nifty would rise even higher prior to the upcoming Lok Sabha elections in January of next year.
Eleven of the thirteen major sectors reached new all-time highs on Tuesday. Energy stocks gained 2.61 percent and financial services increased 3.23 percent, leading sectoral advances. According to reports, these two lists account for roughly 46.5% of the Nifty 50 list’s weight.
Reliance, ICICI, and HDFC saw the most rises, ranging from 1% to 5%. Stocks of Adathi Group increased 1.4% to 10%. Strong November sales also helped Eicher Motors reach a record high.
Three states go to the BJP; Telangana goes to the Congress.