Investor wealth soars Rs 5.33 lakh cr as exit polls predict return of NDA government
Tracking the sharp uptrend in equities, the market capitalisation of BSE-listed companies jumped by Rs 5,33,463.04 crore.
Mumbai: Investor wealth soared by more than Rs 5.33 lakh crore as the benchmark BSE Sensex sprinted more than 1,422 points on Monday after exit polls predicted a return of the NDA government led by the BJP.
Tracking the sharp uptrend in equities, the market capitalisation of BSE-listed companies jumped by Rs 5,33,463.04 crore on Monday.
At the end of Monday's trading session, the market capitalisation of BSE-listed companies stood at Rs 1,51,86,312.05 crore against Rs 1,46,58,709.68 crore on Friday.
This is the third consecutive session of gain for domestic stocks and in these three trading sessions the market capitalisation of BSE-listed companies has jumped by Rs 7.48 lakh crore.
BSE Sensex zoomed past the 39,300 mark, over 1,422 points and NSE Nifty reclaimed 11,800 level on Monday as investors cheered the outcome of exit polls that predicted a clear majority for the ruling NDA in recent general elections. Barring Bajaj Auto and Infosys, all the index scrips settled with gains.
"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," Kotak Institutional Equities said in a research note. The report noted that market is largely factoring in return of BJP-led government.
"We could see a small rally post May 23 election results if the results are in line with the market's expectations," it noted.
Meanwhile, in the forex market, the rupee strengthened and was trading higher by 58 paise to 69.65 against the dollar.
