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Sensex earned dividends post Exit Polls

By IndianMandarins- 20 May 2019


The Exit Polls brought fortune for the capital market today making it the best gains for the Sensex and the Nifty in 10-years.

Sensex, on Monday, opened at 38,819.68, up by 888.91 points while the Nifty opened at 11,691.30, up by 284.15 points

Benchmark indices surged in trade with the Sensex ending the day with mammoth gains of 1422 points, following exit poll predictions of a clear majority for the ruling NDA. The Sensex ended the day at 39,352 points, while the Nifty rallied 421 points to close at 11,828 points.

Indiabulls Housing led gainers from the Nifty with the stock ending 12 per cent higher, while SBI jumped more than 7 per cent.  Shares of Yes Bank, which had hit a 52-week low on Friday, gained substantial ground. The shares ended up 7 per cent at Rs 144. Shares in Anil Dhirubhai Ambani Group (ADAG) companies saw solid buying support with Reliance Capital up near 6 per cent.

Further, Indian Rupee too,m jumped against the US Dollar and rose to a two-week high of 69.36 against the USD as compared to Friday’s close of 70.23. Stock market experts believe that the exit poll results were better than expected which is being reflected in the stock market.

It may well be underlines that in 2004, markets had gained in the pre-poll rush, in hopes of a second term of BJP under Atal Bihari Vajpayee, but the markets crashed soon after the results were out. All it would depend on the final poll results on May 23, 2019.

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