Indian Stock benchmark indices surged high in the opening trade to an extent upto 900 points following exit poll forecast. Majority of the exit-polls have predicted a clear majority for the ruling NDA govt.
At around 9.55am, the Sensex was seen trading at 38,725 points, up near 800 points, while the Nifty50 demonstrated 240 points in trade. Almost all of the stocks in the Nifty pack gained in trade.
All the sectoral indices, except IT index which marginally lower by 0.22%, are witnessing buying pressure, where Nifty PSU Bank being the top index gainer up by 4.17% 3,072-levels, followed by Nifty Reality, financial services, Auto, Banking and metal indices are gaining upto 3% higher in range.
Major gainers in the Nifty50 were Indiabulls housing, SBI, L&T, Maruti Suzuki and ICICI Bank whereas Dr. Reddy’s, Zeel, TechMahindra, Bajaj Auto and Infosys were losers.
Nifty PSU bank index surged 4.22% with major gains in Syndicate, Bank, Canara Bank, PNB, Oriental bank, Allahabad bank and Bank of India with rose between 4 to 5%
Meanwhile, the Indian currency rupee also gained sharply in trade and was last seen trading at 69.56, against previous closing of 70.22.
Crude Oil prices surged by 1% with Brent crude futures were at USD73.25/bl, up 1.04%from their last close.