Sensex climbs 950 points as Exit Polls predict NDA win
Rupee becomes stronger by 86 paise
New Delhi: Post the exit polls, the BSE Sensex jumped over 950 points to 38,892.89 and NSE Nifty rallied over 200 points to vault past 11,650 in early trade Monday. This landslide was because of all major exit polls predicting that the Bharatiya Janta Party’s (BJP) ruling coalition will win 2019 elections and retain power.
The Rupee opened with a gain of 86 paise to 69.44 against US dollar in early trade.
SGX Nifty 50 Index futures rallied as much as 2.6% as exit polls predicted a majority for the Narendra Modi led alliance after the nation’s six-week-long general election ended on Sunday. One-month offshore non-deliverable rupee forwards jumped as much as 2.3% to 69.10 per dollar.
The partially convertible Rupee was trading at 69.49/50 per dollar at 0343 GMT, after rising to 69.3550 earlier, making it up 1.2 per cent on the day. The gain, if sustained, would be the highest since December. However, the traders said that the market gains would be kept in check ahead of the vote counting on Thursday.
The rupee had closed Friday at 70.22. Further gains in the rupee will also depend on flows into the stock markets.