Stock Market LIVE: Sensex up 2,000 points, Nifty near 22,200 on exit polls

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Stock market LIVE updates: Market cap of BSE-listed companies hits record high of ₹424 lakh crore today as stock markets continue rally ahead of Lok Sabha election results on June 4.

Stock market LIVE updates: Shriram Finance raised multi currency $468 million equivalent social loan owing to which it stock surged 6%.

Sensex was up 1,997.67 points or 2.70 per cent at 75,958.98.

Nifty was up 609.20 points or 2.70 per cent at 23,139.90.

About 2319 shares advanced, 1064 shares declined, and 121 shares unchanged.

Stock market LIVE updates: BSE Bank index is up 3% today. Top gainers in the index include Bank of Baroda, SBI and Axis Bank.

Stock market LIVE updates: The Nifty Realty index was up 4% as major contributors included Prestige Estate, Godrej Properties and DLF.

Shares of Gautam Adani’s conglomerate surged as much as 16% as exit polls indicated a big majority for PM Modi led BJP ahead of Lok Sabha election results on June 4.

Sushil Kedia said, “We will continue to back stocks where the relative margin of safety was very high. Stocks that have not performed well so far: FMCG, IT, media entertainment, some bit of chemicals. We will stay away from metals. We will get out of any remaining positions in autos. We will be actively and eagerly looking for this euphoria to settle down to start finding shorting opportunities in financials.”

Sensex was up 2,051.78 points or 2.77 per cent at 76,013.09. Nifty was up 636.80 points or 2.83 per cent at 23,167.50. Top gainers on the Nifty are Adani Ports, Adani Enterprises, Power Grid Corp, Shriram Finance and NTPC were among the top gainers while losers included Dr Reddy’s Labs, HCL Technologies, Eicher Motors and Cipla.

Stock market today: Rupee rises 42 paise to 83.00 against US dollar in early trade.

Stock market today: VIX plummeted 20% today while smallcap and midcap indices also surged up to 3% ahead of Lok Sabha election results tomorrow.

Stock market today: Yes, all sectors are trading in the green today with PSU Bank making the best sectoral gainers on NSE.

Nifty 50 jumped 3.58% and Sensex gained 3.55%, both hitting all-time highs. This also marks the best intraday gains since February.

Stock market today: The BSE Power index rose 5.5% today. Adani Power and Power Grid stock is up 6-13% as the market opened.

Stock market today: Major losers on Nifty are Infosys, Hindalco and Nestle today.

Stock market today: Power Grid Corp, Adani Ports, Adani Enterprises, Shriram Finance and NTPC are among major gainers on the Nifty.

Stock Market today: Nifty Bank rose above 50,000 for the first time as markets opened ahead of Lok Sabha election results.

Nifty PSU Bank jumped over 4% today. Top gainers included: Bank of Baroda, Bank of India, Canara Bank and State Bank of India.

Indian rupee opened 47 paise higher at 82.99 per dollar today versus Friday’s close of 83.46.

Benchmark indices are trading strong in the pre-opening session as Sensex was up 2,093.53 points or 2.83 per cent at 76,054.84. Nifty was up 798.60 points or 3.54 per cent at 23,329.30.

Kotak Institutional Equities said that the new government likely to focus on investment-led growth. A large BJP victory may sustain rich-to-bubble multiples in parts of the market, it said.

IIFL Securities said that there could be attempts at accelerated reforms if PM Modi is re-elected while key sectors will be electricity and agriculture. The brokerage also remained positive on sectors like infrastructure, cement, private banks, NBFCs, and select industrials while being negative on IT & chemicals & neutral on most consumer sectors.

Brokerage firm Jefferies said that the numbers shown in exit polls are higher than expectations. In case actual results mirror exit polls, it will be sentimental positive for capex stoc, it added.

Stock market today: Majority of the exit poll results predicted a historic third term for Prime Minister Narendra Modi as the Bharatiya Janata Party-led National Democratic Alliance is projected to secure over 350 seats in the Lok Sabha elections. The counting of votes will take place on June 4.

Gift Nifty was trading around 23,330 level, a premium of nearly 630 points from the Nifty futures’ previous close.