Stock Market Extra Bullish After Exit Polls Predict Big BJP Win

New Delhi: The share market experienced a massive jump in the early trade, with the hopes of political stability as predicted by the exit polls.

The 30-share Sensex rallied over 2,000 points on Monday morning while the 50-stock Nifty recorded its highest jump in four years when the market opened.

Both Sensex and Nifty, the indexes of the Bombay Stock Exchange and the National Stock Exchange, hit their record high levels on Monday with all Sensex and Nifty stocks in the green.

At pre-open, Nifty surged over 800 points or 3.58% to 23,227.90 while the Sensex jumped 2,621.98 points or 3.55% to 76,583.29.

Adani Ports, Adani Enterprises, Power Grid, Shriram Finance, and NTPC are among the top performers that led the market rally with significant gains.

An aggregate of 12 exit polls on Saturday predicted the BJP will return to power with the ruling NDA alliance with 365 seats. A party or an alliance needs at least 272 seats to form government in the country. According to analysts, the market became bullish due to signs of political stability.