Election 2019 - Sensex at 40K as leads show 2nd term for PM Modi
May 23, 2019
The Sensex and Nifty have surged to record highs after counting trends showed Prime Minister Narendra Modi-led National Democratic Alliance (NDA) leading on over 300 seats. The results are in line with what the market was anticipating.
The S&P BSE Sensex surged as much as 791 points to hit a fresh record high of 39,901.59 while the NSE Nifty climbed as much as 231 points to hit an all-time high of 11,968.95.
Experts say that once the new government gets sworn in the focus needs to shift to arrest the recent slowdown in consumption and improve investment climate so that the GDP growth rate is sustained above 7.5%.
The stock markets extended gains as trends for all the 542 seats were out and was indicating that the BJP-led NDA was gaining on 321 seats while Congress-led UPA was gaining on 109 seats, indicating that Narendra Modi will win second term easily. The results are in line with street estimates and what the exit polls were predicting.