Domestic stock markets on Tuesday, May 21, opened on a high note extending a four-day rally after exit polls on Sunday predicted a clear mandate for the Narendra Modi-led NDA in the Lok Sabha elections.
At 10:12 am, the Sensex traded 126.99 points - or 0.32 per cent - higher at 39,479.66 while the Nifty was up 29.50 points - or 0.25 per cent - at 11,857.75. Both the indexes saw their biggest single-day gain since September 2013 on Monday.
Reliance Industries, HDFC and Bajaj Finance contributed the most to the advances on Sensex.
Adani Ports and Special Economic Zone Ltd was up 2.7% and were the top percentage gainer on the NSE index while Tata Motors Ltd slid 2.9% after reporting a 47% slump in March-quarter profit on Monday.
Modi's National Democratic Alliance (NDA) is projected to comfortably get a majority in the lower house of parliament, exit polls showed.
On Monday, the S&P BSE Sensex jumped 1,032 points at 38,963 while the Nifty 50 climbed 308 points to 11,715. Also, Monday's early morning jump has made investors richer by Rs 3 lakh crore.
Indian stock market reportedly outperformed its Asian peers on Monday.
The exits polls, following the mammoth seven-phase voting for the Lok Sabha 2019 elections, showed 339 and 365 seats for Modi's NDA in the 545-member lower house of parliament. This time Prime Minister Narendra Modi will retain back to power with a bigger majority in the parliament, with financials leading the charge.
(With inputs from agencies)
