Stock market swings the next day after election results, investors’ earnings increased to Rs 4.97 lakh crore

Mumbai (Uttam Hindu News) – Investors are encouraged by the strong performance of the Bharatiya Janata Party (BJP) in the assembly elections of three out of four states and strong economic growth figures amid expectations of a cut in interest rates globally and a fall in US treasury yields. Due to all-round buying, Sensex and Nifty reached new record levels today by jumping more than two percent. The bullish wave in the stock market has made investors rich. This morning investor’s earnings have increased to Rs 4.97 lakh crore.

The results of elections held in 4 states have been announced on Sunday. BJP has got a clear majority in the states of Madhya Pradesh, Rajasthan and Chhattisgarh. This majority boosted positive sentiments among investors.

BSE’s 30-share sensitive index Sensex surged by 1383.93 points or 2.05 percent, crossed the psychological level of 68 thousand points and reached its all-time high of 68865.12 points. Similarly, Nifty of National Stock Exchange (NSE) increased by 418.90 points or 2.07 percent and reached its all-time record level of 20686.80 points. Like big companies, shares of medium and small companies of BSE also made huge profits. Due to this, midcap strengthened by 1.19 percent to 34,999.76 points and smallcap jumped by 1.20 percent to reach 41,051.01 points, crossing the psychological level of 41 thousand points. During this period, shares of a total of 4018 companies were traded in BSE, out of which 2391 were bought while 1446 were sold while there was no change in 181. According to analysts, the ruling BJP at the Center has won significant victories in three of the four state assembly elections. The state election results instilled more confidence among investors about the continuity of the BJP government at the Centre, which led to a rise in the market.

There was a bullish trend in all the 20 groups of BSE. During this period, Commodities 1.81, CD 0.81, Energy 2.88, FMCG 0.74, Financial Services 2.98, Healthcare 0.40, Industrials 2.29, IT 0.49, Telecom 0.91, Utilities 2.94, Auto 1.22, Banking 3.56, Capital Goods 2.92, Consumer Durables. 0.15, metal 0.83, Shares of Oil and Gas 3.77, Power 2.99, Realty 2.06, Tech 0.49 and Services group were 2.76 percent stronger. At the same time, there was a declining trend at the international level. During this period, Britain’s FTSE fell by 0.40, Japan’s Nikkei by 0.60, Hong Kong’s Hang Seng by 1.09 and China’s Shanghai Composite fell by 0.29 percent, while Germany’s DAX rose by 0.03 percent.