Sensex crosses 40,000-mark as trends hint at return of BJP-led NDA coalition

Mumbai, PTI | Updated : 23 May 2019, 10:47 AM
Sensex crosses 40,000-mark as trends hint at return of BJP-led NDA coalition
Sensex crosses 40,000-mark as trends hint at return of BJP-led NDA coalition

For the first time ever, the benchmark BSE Sensex crossed 40,000 mark on Thursday as initial trends hinted at massive victory for the BJP-led NDA coalition. The Sensex surged over 956.29 points at 40,066 while the Nifty also crossed the 12,000-mark. Nifty surged 297 votes and was trending at 12,035.80 points.

According to traders, investor sentiment was boosted by initial trends that suggested a win for the ruling NDA. Amid market euphoria, the rupee also appreciated 26 paise to 69.40 against the US dollar in opening trade. The 30-share index zoomed over 2 per cent to hit an intra-day high of 39,901.59. Similarly, the broader NSE Nifty too spurted more than 2 per cent to touch a record of 11,968.95.

In the previous session, the Sensex ended 140.41 points, or 0.36 per cent, higher at 39,110.21; and the broader NSE Nifty rose 28.80 points, or 0.25 per cent, to 11,737.90. Top Sensex gainers in morning trade include IndusInd Bank, SBI, L&T, PowerGrid, Yes Bank, Kotak Bank, ICICI Bank, RIL, HDFC, Bharti Airtel and Axis Bank, rallying up to 7 per cent.

While, Vedanta, ONGC, Bajaj Auto and Sun Pharma slipped up to 1.92 per cent. Meanwhile, foreign institutional investors sold equity worth Rs 965.02 crore on Wednesday, while domestic institutional investors sold shares to the tune of Rs 157.75 crore, provisional data available with stock exchanges showed.

Elsewhere in Asia, bourses in China, Japan and Korea were trading on a negative note in their respective early sessions. Brent crude, the global benchmark, was trading at 70.58 per barrel, lower by 0.58 per cent.
First Published: Thursday, May 23, 2019 10:41 AM
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