Indian benchmark equity indices opened at record highs today (June 3). The Nifty 50 surged past 23,000 and BSE Sensex crossed the 76,000 mark owing to exit polls predicting a third term with a massive mandate for Prime Minister Narendra Modi. Investors remained optimistic about the NDA government’s third term as BSE Sensex traded 2,178 points, or 2.94%, higher at 76,139. The Nifty 50 was up 579 points, or 2.57%, trading at 23,109.
- All the 30-Sensex companies were trading in the green.
- Power Grid, NTPC, Larsen & Toubro, State Bank of India, Axis Bank, IndusInd Bank, ICICI Bank and Mahindra & Mahindra were the biggest gainers. Read more: Harsh Goenka lists 10 expectations from PM Modi’s third term. World Cup Trophy is a plus
- Most exit polls indicated that the BJP is likely to win the Lok Sabha election as the alliance is set to secure more than 370 seats. Counting of votes will take place on June 4.
- Market capitalisation of all listed companies on BSE surged by ₹11.1 lakh crore to ₹423.21 lakh crore.
- Sector-wise, Nifty PSU Bank, Oil & Gas, Financial Services, Metal, Realty, and Auto opened 3-5% higher.
- Stock market surge is also followed by India’s GDP data which showed that the country’s economy grew by 8.2 per cent in the fiscal year that ended in March. Read more: PSU stocks post record profit of ₹5 lakh crore: These performed best
- In Asian markets, Seoul, Tokyo and Hong Kong were quoting with gains while Shanghai traded lower.
- US markets ended mostly higher on Friday.
- Foreign Institutional Investors (FIIs) bought equities worth ₹1,613.24 crore on Friday, according to exchange data.
- Global oil benchmark Brent crude dipped 0.04 per cent to USD 81.08 a barrel.
