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Lok Sabha Elections Results 2019: Modi 2.0 and the markets today; check highlights
Right from Thursday morning, investors were eagerly waiting for the markets to open because it was a very crucial day, not just for people who expected to gain something, but for every Indian, and Indians across the world due to Lok Sabha Elections Results 2019.
Right from Thursday morning, investors were eagerly waiting for the markets to open because it was a very crucial day, not just for people who expected to gain something, but for every Indian, and Indians across the world due to Lok Sabha Elections Results 2019. The known voices of share bazaar were expecting the markets to witness something unprecedented, and that is what literally happened. Two big records were created! It was the first time ever, when Sensex touched 40k mark and Nifty breached 12k points level. All this happened as going in sync with exit polls prediction, BJP-led NDA under the leadership of PM Narendra Modi scripted historic and landslide win in 2019 Lok Sabha Elections Results 2019.
Here is the chronological sequence of events which took place from Opening Bell to Closing Bell:-
-Taking a cue from the initial trend of the Lok Sabha polls verdict which indicated the BJP-led NDA candidates are leading, the key Indian equity market indices on Thursday opened higher.
- The Sensitive Index (Sensex) of the BSE, which had closed at 39,110.21 points on Wednesday, opened higher at 39,591.77 points.
- Minutes into trading, it was quoting at 39,653.12 points, up by 542.91 points, or 1.39 per cent.
- At the National Stock Exchange (NSE), the broader Nifty 50, which had closed at 11,737.90 points on Wednesday, was quoting at 11,882.40 points, up by 144.50 points or 1.23 per cent.
- As many as 48 stocks advanced in the Nifty 50 index while 2 stocks declined. In BSE Sensex, all 30 stocks including Coal India, TCS Yes Bank, Maruti were trading in green at 9.19 a.m.
- Sensex crossed 40,000 mark for the 1st time. At 1.27 p.m., the Sensex was up by 338.65 points or 0.87 per cent to 39,448.86 after its surpassed the 40,000 mark within minutes into Friday's trade.
- The BSE Sensex hit another lifetime high of 40,030.86 on Thursday as the ruling National Democratic Alliance (NDA) was seen leading in the Lok Sabha vote count.
- It touched an intra-day and lifetime high of 40,124.96 and a low of 39,216.90. The Nifty too, was just 111.65 points or 0.95 per cent up at 11,849.55.
- However, in the 2nd half of the session, the benchmark BSE Sensex erased early gains to end 299 points lower Thursday as investors booked profits after stocks soared to record highs after BJP's strong showing in the Lok Sabha polls.
-During the day, the Sensex hit the 40,000 mark while the Nifty crossed the 12,000-level for the first time ever. However, the indices succumbed to profit booking towards the fag-end of the session.
-The 30-share Sensex tumbled 298.82 points, or 0.76 per cent, to close at 38,811.39. Similarly, the broader NSE Nifty settled 80.85 points, or 0.69 per cent, lower at 11,657.05.
Top gainers and losers
GAINERS: IndusInd Bank was the biggest gainer in the Sensex pack, rallying 5.23 per cent, followed by Hero MotoCorp, Coal India, Yes Bank, PowerGrid, ICICI Bank, HCL Tech, L&T, Kotak Bank and Bharti Airtel, rising up to 1.56 per cent. As far as the Nifty is concerned, Adani Ports, Zee Entertainment, IndusInd, Grasim and Cipla performed well.
LOSERS: On the other hand, Vedanta, ITC, Tata Motors, HDFC twins, Bajaj Finance, Sun Pharma, Tata Steel, TCS, ONGC and Infosys fell up to 5.53 per cent. In Nifty, VEDL, EICHERMOT, ITC, HINDALCO and BAJAJ FINSRV were the
Riding on a massive Modi wave sweeping through most parts of India, the BJP was set to return to power Thursday as it led in 298 seats while the Congress trailed far behind with 52, according to trends released by the Election Commission for all 542 seats that went to polls.
According to traders, weak cues from other global markets and a depreciating rupee also weighed on investor sentiment. The rupee depreciated 37 paise to 70.04 against the US dollar in afternoon trade. Globally, bourses in Asia ended in the red. Indices in Europe were also trading on a negative note in early deals. Brent crude, the global oil benchmark, was trading 1.79 per cent lower at USD 69.72 per barrel.
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