Stock market soars high after exit polls

Domestic stocks today surged in the afternoon trade as investors cheered exit poll results that showed the ruling NDA’s victory in the recently-concluded Lok Sabha elections. Sensex at Bombay Stock Exchange surged 1,284 points, or 3.4 per cent, to zoom past the 39,000 mark of 39,215, a short while ago. Nifty at National Stock Exchange also jumped 359 points or 3.2 per cent to 11,776.

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Rupee at the forex market also appreciated 69 paise to 69 rupees and 52 paise against the US dollar in afternoon deals.

On the corporate front, about 658 companies will declare their quarterly earnings numbers this week, including index heavyweights such as BPCL, HPCL, Tata Motors and Tech Mahindra. Analysts believe the market will cheer the prospect of a stable government at the centre. Also, the possibility of the BJP returning with absolute majority can lift the spirit further.

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The BSE S&P Sensex is trading up at 1300 points or 3.45 per cent at 39,239, while NSE Nifty is riding up 377 points or 3.31 per cent at 11,784 level, with 45 out of 50 componenets trading on the green.

COURTESY:- NEWS BHARATI