Investors Gain Rs 12.48 Lakh Crore In Morning Trade Amid Share Market Rally

Share Market Rally: The BSE Sensex, comprising 30 shares, soared by 2,777 points (3.75 per cent), to reach a record peak of 76,739 in early trade

Share market rally: All 30 Sensex companies traded in positive territory. Leading gainers included Power Grid, NTPC, State Bank of India, Larsen & Toubro, Mahindra & Mahindra, IndusInd Bank, and Axis Bank.

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Share Market Rally: Investors saw a major surge in wealth, with a jump of Rs 12.48 lakh crore during Monday morning trade as the benchmark equity index Sensex hit a lifetime high. This surge followed exit polls predicting a substantial victory for the BJP-led NDA in the upcoming Lok Sabha elections. The BSE Sensex, comprising 30 shares, soared by 2,777 points (3.75 per cent), to reach a record peak of 76,739 in early trade.

The substantial rally in equities propelled the market capitalisation of BSE-listed companies to an all-time high. It climbed by Rs 12,48,952.68 crore, reaching Rs 4,24,61,833.82 crore ($5.10 trillion) during the morning session.

Exit polls released on Saturday forecasted that Prime Minister Narendra Modi would secure a third consecutive term, with the BJP-led NDA anticipated to achieve a dominant majority in the Lok Sabha elections. Vote counting is set for June 4.

"The exit poll numbers are very strong for the incumbent government," noted Narendra Solanki, Head of Fundamental Research - Investment Services at Anand Rathi Shares and Stock Brokers. He added that this outcome is favourable for the markets both in the short and long term. Additionally, the recently released robust GDP growth data should further bolster the positive momentum.

India's economy recorded an 8.2 per cent growth in the fiscal year ending in March, reinforcing its status as the world's fastest-growing major economy.

"The GDP numbers, which were better than expected with 8.2 per cent growth, will provide fundamental support to the market," commented V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

All 30 Sensex companies traded in positive territory. Leading gainers included Power Grid, NTPC, State Bank of India, Larsen & Toubro, Mahindra & Mahindra, IndusInd Bank, and Axis Bank.

In the broader Asian markets, Seoul, Tokyo, and Hong Kong posted gains, while Shanghai traded lower. Meanwhile, US markets closed mostly higher on Friday. According to exchange data, Foreign Institutional Investors (FIIs) purchased equities worth Rs 1,613.24 crore on Friday.