Sensex surges 2,000 points after Exit polls predict BJP victory

The share market experienced a massive jump this morning following exit polls predicting a significant win for the BJP in the upcoming elections. The Sensex surged over 2,000 points, while the Nifty recorded its biggest jump in four years during the market opening. Both Sensex and Nifty hit their record high levels today, signaling strong investor confidence in political stability. At pre-open, the Nifty soared by 800 points or 3.58% to 23,227.90, and the Sensex jumped 2,621.98 points or 3.55% to 76,583.29, with all stocks in the green.

Top performers driving this rally include Adani Ports, Adani Enterprises, Power Grid, Shriram Finance, and NTPC. Additionally, the latest GDP data, showing an impressive 8.2% fiscal growth, further bolstered market sentiment. Varun Aggarwal, founder and managing director of Profit Idea, noted that buoyant market sentiments are driven by India's robust Q4FY24 GDP growth of 7.8%, surpassing expectations. However, Aggarwal cautioned that the market will remain volatile ahead of the official election results expected tomorrow. Analysts emphasize that the market's preference for political stability minimizes the risk of volatility typically associated with a change in government.