Mumbai: The Sensex surged over 500 points, above the psychological 24,000 mark, for the first time on Tuesday on exit poll results announced on Monday. The Sensex has now gained over 1,700 or nearly 8% in just three sessions since Friday.
The broader Nifty jumped around 160 points and traded above the key 7,150 levels. This is the third straight day when Indian stock markets have hit record highs.
The BJP-led NDA is projected to win between 249 and 340 seats, according to six exit polls. It needs 273 seats for a simple majority. The BJP’s own tally could be over 210-220 seats, the exit polls predicted.
If the exit poll projections come true, India might be heading for a stable government under Narendra Modi, something investors have been rooting for.