Closing Bell: Sensex, Nifty Climb Over 3% To All-Time Highs

Benchmark stock indices Sensex and Nifty soared over 3 percent at all-time highs on Monday, driven by widespread buying as exit polls forecast a landslide victory for the BJP-led NDA in the general elections.

The 30-share BSE Sensex climbed 2,507.47 points or 3.39 percent to reach a new closing high of 76,468.78, its greatest single-day gain in three years. During the day, the barometer rose 2,777.58 points, or 3.75 percent, to a record intra-day high of 76,738.89.

The NSE Nifty jumped 733.20 points or 3.25 percent to 23,263.90. During the day, it scaled 808 points, or 3.58 percent to a new intra-day high of 23,338.70.

Exit polls on Saturday predicted that Prime Minister Narendra Modi will re-elected for a third term, with the BJP-led NDA winning a large majority in the Lok Sabha elections. The votes will be counted on June 4.

Adani Power, GAIL (India), Power Finance Corp, RECL, Bank Of Baroda, Adani Ports, NTPC, SBI, and Power were the top gainers.

Among the laggards were Zomato, Havells India, Bosch, Eicher Motors, Samvardhana Motherson, and LTIMindtree.

In Asian markets, Tokyo, South Korea, Singapore, Indonesia, Hong Kong, and Taiwan concluded higher, while Shanghai, Thailand, and Malaysia ended lower.

On Friday, US markets closed mostly higher.

European stocks were trading in green.

Brent crude gained 0.18 percent to USD 81.26 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 1,613.24 crore on Friday.

On Friday, the Sensex advanced 75.71 points or 0.10 percent to 73,961.31, while the Nifty moved 42.05 or 0.19 percent to 22,530.70.

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