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Sensex witness steep high after exit poll results

May 21, 2019

On Sunday evening, the exit poll results of Lok Sabha elections were out. The results showed a massive win for BJP led National Democratic Alliance with Indian Prime Minister Narendra Modi gearing up for a comeback. On Monday, the sensex increased to over 1421 points after the exit poll results were announced. This was the biggest one day gain in ten years. It closed at a record high of 39,352. Apparently, the polls showed a steep hike in NDA results when compared to the poll results of 2014.

S&P BSE Sensex pitched as much as 1,405.89 points or 3.71 per cent. NSE Nifty reached 414.85 points from the previous close to hit an intraday high of 11,822.00.

I expected the Sensex to correct, but it has climbed even higher - up 1,300 points now. Clearly, market expectations are voting beyond exit polls-Gautam Chikermane, Director, CAREIndia

According to experts, this steep hike is short lived only till the election results are announced on 23 May. Auto, energy and financials were the ones that supported the equity market the most. Some of the top gainers in the market were Adani Ports, IndusInd Bank, HDFC Bank, State Bank of India (SBI) and Indiabulls Housing Finance. Variations are expected in the market until results are announced.

"Markets Continue to Soar as Sensex Climbs 1,300 points; Nifty Touches 11,800 After Exit Polls Predict NDA Victory, tweeted Mukesh Kumar.

"Sensex Jumps Over 950 Points After Exit Polls after NDA Win prediction. A stable govt is best for India, tweeted Chowkidar Geetika Swami.

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