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After Exit Polls show big victory for NDA, markets open on a bumper high note

After Exit Polls show big victory for NDA, markets open on a bumper high note

New Delhi, May 20: Domestic financial markets cheered exit poll results showed that ruling National Democratic Alliance is likely to will the general Lok Sabha elections on Monday, with the benchmark BSE Sensex skyrocketing over 900 points, and the rupee appreciating 79 paise against the US dollar.   After soaring over 962 in early session, the 30-share index pared some gains and was trading 687.63 points, or 1.81 per cent, higher at 38,618.40. In similar movement, the broader NSE Nifty was trading 203.05 points, or 1.78 per cent, up at 11,610.20. Top gainers in the Sensex pack include Maruti, L&T, SBI, ICICI Bank, RIL, M&M, IndusInd Bank, Axis Bank, Yes Bank and Vedanta, rising up to 4 per cent. On the other hand, Bajaj Auto, Infosys and HCL Tech slipped up to 2 per cent. Most exit polls Sunday forecast another term for Prime Minister Narendra Modi, with some of them projecting that BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha. The results of the seven-phase polls will come out Thursday.

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