Lok Sabha Election Result Impact: Sensex creates history, breaches 40,000 mark to set record high
Lok Sabha Election Result Impact: The election result day has brought cheers on Dalal Street as the benchmark Index, BSE Sensex has created history. The 30 share index surpassed 40,000 mark for the first time ever and went as high as 40,123.
Lok Sabha Election Result Impact: The election result day has brought cheers on Dalal Street as the benchmark Index, BSE Sensex has created history. The 30 share index surpassed 40,000 mark for the first time ever and went as high as 40,123. Investors are expecting Prime Minister Modi to return to imcumbency, while other major indices have also seen a jump of 1.5 to 2 per cent so far. The exit polls gave clear mandate to NDA registreing another tenure with an average of 304 seats in centre. Meanwhile Nifty50 too reached the 12,000 mark for the first time ever.
Nifty Bank was among the highest grossing index with 2.90% raise till 11:00 hrs. The banking index was trading around 31,413.20, jumping 886.40 points. While major gainers at 11:00 hrs were Adani Ports (8.3%), Yes Bank (6.65%), BPCL (6.84%), IndusInd Bank (5.93%) and SBI (5.60%). The major losers of the market at 11:00 hrs were ITC (1.25%), Vedanta (0.93%), Hindalco (0.96%), Wipro (0.49%) and Dr Reddys Labs (0.40%).
Motilal Oswal, CMD, MOFSL said, "This is a new beginning not only for the markets but for the whole country. India is on the way to be a super power leading the world." In the previous session, the Sensex ended 140.41 points, or 0.36 per cent, higher at 39,110.21; and the broader NSE Nifty rose 28.80 points, or 0.25 per cent, to 11,737.90.
HDFC Securities said, ''On this volatile day of counting it makes sense to put stop losses for your trading positions. Best is to buy the options that limit the loss that you can incur up front. And constructing a bull or a bears spread further reduces your cost and the gains/protection. But mind you the options IV will fall dramatically after the event. Keep that in mind.''