Dalal Street Celebrates Exit Polls; Market Closes At All-time High

Dalal Street had an early celebration in the Monday trading session after the market soared and sustained record rallies. The benchmark indices, Nifty and Sensex skyrocketed with nearly 4 per cent gains along with robust movement in sectoral indices.

The National Stock Exchange (NSE) Nifty 50 index ended 3.25 per cent or 733 points higher at 23,263, whereas the S&P Bombay Stock Exchange (BSE) Sensex also set 76,430 levels with 2,470 points gains on the closing bell.

Nifty Moves

In the Nifty50 index, 42 stocks advanced, while eight stocks declined during the trade with a slight loss.

In the 50-stocks index, Adani Ports claimed the top position among peers with more than 10 per cent gains. State-run NTPC and public lender SBI also surged more than 9 per cent with the latter crossing an eight trillion market cap, while Power Grid and ONGC gained 8.92 per cent and 7.47 per cent respectively.

Additionally, Adani Enterprises, Shriram Finance, Larsen & Toubro and BPCL traded more than 6 per cent higher. 

Conversely, in the laggard segment, Eicher Motors and LTI Mindtree shredded more than 1 per cent. HCL Technologies, Asian Paints, Sun Pharma, Britannia, Dr Reddy and Infosys also traded in red territory.

Sectoral Movement

In terms of sectoral performance, Nifty Bank soared to a record high with nearly 4 per cent gains, whereas Nifty PSU Banks rallied 8.4 per cent.

Metal gained more than 3 per cent, while Auto rallied 2.45 per cent on May sales data. Realty also displayed robust gains of nearly 6 per cent, however, Pharma and IT traded with slight gains.

The more domestically focussed indices, mid-cap and small-cap also boomed with 3.19 per cent and 2.41 per cent gain respectively.

(This is a developing story, updates will be added)