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Equity Investors Made Over Rs 5.3 Lakh Crores From The Post Exit Poll Rally
As BSE's benchmark index, Sensex, gained over 1,422 points on Monday, after exit polls predicted a return of the BJP-led NDA government, investors' wealth is predicted to have soared by more than Rs 5.33 lakh crore, according to a PTI report.
On the same eventful trading day, the market capitalisation of BSE-listed companies jumped by Rs 5,33,463.04 crore, as per data available with the stock exchange. Market cap of these companies reportedly soared to Rs 1,51,86,312.05 crore on Monday as against Rs 1,46,58,709.68 crore on Friday.
BSE Sensex had zoomed past the 39,300 mark, up by 1,422 points and NSE Nifty reclaimed 11,800 level on Monday as investors cheered the prediction of a clear majority for the ruling NDA in the Lok Sabha elections 2019. On Tuesday, the rally continued, with both Sensex and Nifty 50 hitting new all-time highs of 39,512.59 and 11,866.90 respectively.
Five Nifty stocks hit their all-time highs- HDFC soared to Rs 2,178, Bajaj Finance to Rs 3,455, HDFC Bank to Rs 2,449, Axis Bank to Rs 792 and Titan Company to Rs 1,245 on NSE.
In a research note, Kotak Institutional Equities said that, "The exit polls would be seen as a modest positive for the Indian stock market as the market was largely factoring in the return of the BJP-led NDA government." It further said that the if the election results are in-line with market expectations and exit polls, a small rally will be seen on 23 May.
