Sensex, Nifty record biggest intra-day gains in decade after FM' tax booster

Investors Rs 5.33 lakh crore richer after Lok Sabha Elections 2019 Exit polls

After a strong closing in the previous session on Friday, the benchmark indices saw both the BSE Sensex and NSE Nifty open at record highs on Tuesday morning, two day after the Exit polls- predicting victory for the BJP-led National Democratic Alliance.

Investor wealth on Monday, May 20 soared by Rs 5,33,463.04 crore in the Bombay Stock Exchange (BSE). At the end of Monday’s trading session, the market capitalisation of BSE-listed firms stood at Rs 1,51,86,312.05 crore against.

The BSE Sensex crossed the 39,300 mark, up by over 1,422 points, while the National Stock Exchange’s (NSE) Nifty touched the prestigious 11,800 mark on Monday.

“What would help the markets sustain momentum is factors that are fundamentally important, like decisive policy initiatives from the new government, faster land and labour reforms, and also the unfinished task of quick consolidation and re-organisation of the banking system,” said Emkay Wealth Management Head of Research Joseph Thomas, as quoted by MilleniumPost.

The rupee appreciated by 49 paise to close at 69.74 against the dollar on Monday.

India stocks lower; Sensex drops for 9th day to end at 37,090 while Nifty ends below 11,150

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