Election win for the BJP lifts Indian stock market; Sensex and Nifty 50 hit record highs.

 

Also Read Kalinga Express

The recent electoral victory for the

 Bharatiya Janata Party (BJP) in India has profoundly impacted the country's stock market, with both the Sensex and Nifty 50 reaching unprecedented highs. This surge in market indices reflects the optimism and confidence of investors in the economic policies and governance of the BJP-led government.

The Sensex, a benchmark index of the Bombay Stock Exchange (BSE), and the Nifty 50, a key index of the National Stock Exchange (NSE), serve as crucial indicators of the overall health and performance of the Indian stock market.

Nifty 50 hit its fresh record high of 20,702.65 while the Sensex made its fresh peak of 68,918.22 during the session. Finally, Nifty 50 closed at 20,686.80, up 419 points, or 2.07 percent while the Sensex closed with a gain of 1,384 points, or 2.05 percent, at 68,865.12. Thus, both key indices ended at their record closing peaks.

The BSE Midcap and Smallcap indices also hit their fresh highs of 35,124.23 and 41,221.91 respectively. Eventually, the BSE Midcap index closed 1.19 percent higher at 34,999.76 while the Smallcap index ended 1.20 percent higher at 41,051.01.

The overall market capitalization of the firms listed on the BSE rose to nearly ₹343.5 lakh crore against ₹337.7 lakh crore in the previous session, making investors richer by about ₹5.8 lakh crore in a single session.

Over 430 stocks, including Axis Bank, Bajaj Finserv, Bharti Airtel, HCL Tech, Larsen & Toubro, Mahindra and Mahindra, NTPC, Titan and UltraTech Cement, hit their fresh 52-week highs in intraday trade on BSE.


Arvinder Singh Nanda, Senior Vice President, of Master Capital Services Ltd, said, "Some sectors that are expected to do better in the near term are the banking sector as they have attractive valuations and are backed with clean and healthy balance sheets, strong asset quality, and are witnessing robust credit growth. The auto sector is expected to rebound mainly due to growing incomes, growing demand, growth in infrastructure, favorable government policies, and urbanization."

"The EV segment is also expected to grow in the coming years. The FMCG sector has been growing significantly in India over the past few years and is expected to do well in the future as its products are always in demand. The IT sector is also expected to perform well due to a shift in technology towards analytics, cloud computing, and artificial intelligence," he added.

Foreign investors, in particular, closely monitor political developments and policy decisions in emerging markets. The election win for the BJP is likely to attract foreign capital inflows into the Indian market as global investors seek opportunities in a stable and growing economy.

 The recent election win for the BJP has acted as a catalyst for the Indian stock market, propelling the Sensex and Nifty 50 to record highs. The optimism surrounding the government's pro-business stance and the anticipation of economic reforms have spurred investor confidence, attracting domestic and foreign capital.

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