Team Blitz India
NEW DELHI: Investors’ wealth jumped Rs 12.48 trillion in morning trade on June 3 as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls.
The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade.
Following the huge rally in equities, the market capitalisation of BSE-listed companies climbed Rs 12,48,952.68 crore to hit an all-time peak of Rs 4,24,61,833.82 crore ($ 5.10 trillion) during the morning trade.
Earlier the exit polls on June 1 had predicted that PM Modi would retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls.
“The exit poll numbers are very strong for the incumbent government,” Narendra Solanki, Head Fundamental Research – Investment Services, Anand Rathi Shares and Stock Brokers, said.
Overall it’s positive for the markets in short as well as long term. Also, the recent released good GDP growth data should provide support to existing positive momentum, he added.
India’s economy grew by 8.2 per cent in the fiscal year that ended in March, cementing the country’s position as the fastest-growing major economy in the world.
