ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • IRDAI sets a target of 5 years for life insurance companies for greater penetration; proposes state-level committee
  • Dalal Street Corner: Bank, FMCG stocks help Nifty clear crucial hurdle of 15,800; what should investors do on Tuesday?
  • Despite windfall tax, brokerages remain bullish on oil & gas stocks; see up to 70% upside on ONGC, Oil India
  • Rupee settles flat at 78.94 against US dollar
  • Akasa Air showcases crew uniform; conducts proving flight test
Read in App
Business News » Markets News

Exit Poll impact! Nifty Bank at record high; SBI share price, Yes Bank, BoB, IndusInd among top gainers

The banking index, Nifty Bank touched jumped to a new record in Monday's trading session. The NSE banking index closed at 30,758.65, surging 1,308.5 points or 4.44%.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Exit Poll impact! Nifty Bank at record high; SBI share price, Yes Bank, BoB, IndusInd among top gainers
The banking index, Nifty Bank touched jumped to a new record in Monday's trading session. The NSE banking index closed at 30,758.65, surging 1,308.5 points or 4.44%. PTI

The banking index, Nifty Bank touched jumped to a new record in Monday's trading session. The NSE banking index closed at 30,758.65, surging 1,308.5 points or 4.44%. The banking shares were trading in the green with Nifty bank index hitting record high. The Indian stock markets had a positive response on Monday due to exit poll surveys revealed on Sunday. Stock markets welcomed surveys findings that showed BJP returning to power with a strong majority. 

Avinash Gorakshakar, Head Research, Joindre Capital told Zee Business Online, ''The market has welcomed the projection by exit poll surveys of NDA returning to power, but the actual results will have a real impact on the domestic market. However, the volatility will be there till 23rd May, but the rally will be continued if BJP bags over 300 seats in Lok Sabha elections.''

The Exit Polls accord an average of 304 seats to NDA and 118 seats to UPA with rest of the seats going to other parties outside of these two pre-poll alliances. BJP is predicted to win an average of 260 seats while Congress is expected to reach 67 seats in 2019. The private bank shares like, IndusInd Bank (up 8.82 per cent), YES Bank (up 7.01 per cent), ICICI Bank (up 4.62 per cent), Federal Bank (up 5.07 per cent) and Axis Bank (up 4.47 per cent) traded in the green.  While the PSBs which remained on the higher side were, State Bank of India (up 8.32 per cent), Punjab National Bank (up 6.77 per cent) and Bank of Baroda (up 9.50 per cent). 

Gautam Duggad, Head of Research, Motilal Oswal said, ''We expect the markets to react positively to the exit polls. We also expect favourable reaction in the Bond and currency markets. Prediction of continuance of stable government with majority/near majority augurs well from reforms and policy agenda perspective, in our view. It removes a key overhang from the market narrative – potential of a hung verdict, formation of a third front government with no major national party at the helm.''

Joseph Thomas, Head Research- Emkay Wealth Management said, “The domestic equity markets witnessed unprecedented and remarkable surge, across all sectors and segments, after the exit polls indicated a higher probability for the current dispensation to come back to power with a clear majority. What would help the markets sustain the momentum is factors that are fundamentally important, like decisive policy initiatives from the new government, faster land and labour reforms, and also the unfinished task of quick consolidation and re-organization of the  banking system. It is pertinent to note that global factors would also come to play sooner than later, the factors which cannot be overlooked are the impact of the trade and tariff war between the US and China, the developments in the Gulf Region and the prospects of a gradual slowdown in the global economy.”  

 

The benchmark NSE Nifty50 index was up 421.10 points at 11,828.25 (3.69%), while the BSE Sensex was up 1451.90 points at 39,352.67 (3.75%). Among the 50 stocks in the Nifty index, 45 were trading in the green, while 5 were in the red.  The shares of Vodafone Idea, YES Bank, SBI, Adani Power, PNB, ICICI Bank, Adani Enterprises, Bank of Baroda, Ashok Leyland and Tata Motors were among the most traded securities on the NSE on Monday.  

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Nifty BankMarkets
Written By: ZeeBiz WebTeam
Updated: Mon, May 20, 2019
05:29 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Anil Singhvi’s Strategy May 17: Support zone on Nifty is 15740-15800, Bank Nifty is 33125-33300 Anil Singhvi’s Strategy May 17: Support zone on Nifty is 15740-15800, Bank Nifty is 33125-33300
Anil Singhvi’s Strategy May 16: Support zone on Nifty is 15675-15750, Bank Nifty is 32875-33000 Anil Singhvi’s Strategy May 16: Support zone on Nifty is 15675-15750, Bank Nifty is 32875-33000
Stay away from metals; IT, banks may underperform – buy on dips in auto, says Anil Singhvi   Stay away from metals; IT, banks may underperform – buy on dips in auto, says Anil Singhvi
Sector Spotlight: Opportunity in bank, financial stocks despite current losses, says analyst; picks SBI, ICICI Bank for top returns Sector Spotlight: Opportunity in bank, financial stocks despite current losses, says analyst; picks SBI, ICICI Bank for top returns
Sector Spotlight: Investors with short term view must bank on financials; buy ICICI Bank, Axis Bank, Kotak Mahindra Bank, says analyst Sector Spotlight: Investors with short term view must bank on financials; buy ICICI Bank, Axis Bank, Kotak Mahindra Bank, says analyst

LATEST NEWS

PM Narendra Modi to inaugurate 8th Edition of Digital India Week 2022; event to be hosted in Gandhinagar on 7-9 July

National Apprenticeship Promotion Scheme Latest News: DBT - Govt to directly transfer Rs 1500 per month

Stocks to buy today: List of 20 stocks for profitable trade on July 5

Rakesh Jhunjhunwala portfolio's net worth drops by 25% or Rs 8300 cr in 3 months owing to weak market

OnePlus Nord 2T 5G India sale starts today - Check price, availability and specifications

Windfall tax impact likely to continue on oil refining firms, says Anil Singhvi; believes RIL may see revenue, profit contraction

Anil Singhvi Strategy on July 5: Support zone on Nifty is 15750-15800 and Bank Nifty is 33725-33825

Air India alerts people about hoax communication; link offering Rs 6000, fake, says company

Pricing flexibility, lower credit cost to help revive NBFC-MFIs profitability this fiscal: Report

India's record trade deficit in June adds pressure on currency

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV