Sensex Sensex shoots up by 2,000 points after exit polls show Modi's landslide victory in Lok Sabha polls
Mumbai/IBNS: The Indian stock market zoomed past by 2,000 points since the morning bell on Monday, in tune with the exit polls showing the return of the Modi government with a landslide victory in the Lok Sabha polls.
BSE Sensex surged by 2,778 points to hit all-time high of 76,738.89.
Nifty 50 shot up by 808 points to score 23,338.70, a record high.
The stocks led by NTPC, SBI, Axis Bank, ICICI Bank, Ultratech Cement were among the stocks in Sensex which opened in green.
The stocks have risen by 3 to 7 percent.
In early trading, stocks of Adani Ports, Shriram Finance were among the biggest gainers.
Prime Minister Narendra Modi is likely to return for a record-equalling third term in office with the BJP-led NDA alliance set to get a thumping majority defeating the combined opposition's INDIA Bloc, according to the exit poll results after the seventh and final phase of polling in the country on Saturday.
The Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) can garner around 350 or more seats while the INDIA bloc led by the united opposition is likely to get 125 to 150 seats, the exit polls indicate.
Amid a slogan to win over 400 seats in the 543-member Parliament, the exit polls give a massive mandate for a third Modi term.
According to the Republic-PMARQ poll, NDA will win 359 seats and INDIA bloc around 154 followed by 30 by others, while Republic-Matrize poll projects upto 368 seats for the saffron bloc.
Matrize project said the NDA is likely to get 353-368 seats while the INDIA bloc will get 118-133 seats. Others will get 43-48 seats.
Exit poll by India News-D-Dynamics projected 371 seats for the Modi-led BJP and NDA alliance.
NDTV India-Jan Ki Baat has suggested 362-392 seats for the BJP-led NDA and between 141 and 161 seats for the INDIA bloc.
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