On election result day, Sensex opens 500 points higher; rupee stronger by 10 paisehttps://indianexpress.com/article/business/market/lok-sabha-election-results-market-sense-nifty-rupee-5743482/

On election result day, Sensex opens 500 points higher; rupee stronger by 10 paise

On the currency front, the rupee also gained against the US dollar and was trading at 69.55, up by 10 paise against the dollar.

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Since Thursday, two days before the exit polls projected victory for BJP, the Sensex has now risen by over 2,500 points or almost 7 per cent.

Taking cues from the initial trends indicating a clear victory for ruling NDA government at the centre, the Sensex at the Bombay Stock Exchange opened with a gain of 538 points and was trading at an all-time high of 39,648. The Nifty at the National Stock Exchange too opened with a gain of 141 points at 11,879.

The gains were across the market as out of the 426 companies that traded at BSE in the initial opening minutes, there were 373 advance and 39 declines.

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On the currency front, the rupee also gained against the US dollar and was trading at 69.55, up by 10 paise against the dollar.

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Since Thursday, two days before the exit polls projected victory for BJP, the Sensex has now risen by over 2,500 points or almost 7 per cent.

Experts say that if the trends were to continue the way it is, the markets may gain further before it can see some profit booking.