Mumbai. Seeing the possibility of Modi government being formed for the third time in the exit poll results, the stock market took a huge jump as soon as it opened today. Sensex recorded a rise of 2000 points and Nifty 1000 points. A big jump was seen in the shares of IRCTC, Adani Power, BPCL and HDFC Bank. Earlier, on last Friday, Sensex closed at 73961.31 and Nifty at 22530.70 points. So far, the highest level of Sensex has been 76,009.68 and Nifty’s 52-week high is 23110.80 points. Rupee has also opened 42 paise higher against the dollar.
#WATCH , Mumbai: As Sensex-Nifty mark record highs this morning, Market Expert Sunil Shah says, “When the election process concluded on 1st June evening and Exit Polls came out, all of them indicated the return of NDA Government to power. This is positive for market as market… pic.twitter.com/yXWlQQFNUs
— ANI (@ANI) June 3, 2024
All the exit poll results have predicted that the Modi government will be formed at the centre for the third time. Three exit polls have even claimed that the NDA will cross 400. Due to these exit poll results, investors showed a lot of interest in trading as soon as the stock market opened on Monday after being closed on Saturday and Sunday. Actually, the BJP government is considered investor friendly. The stock market has been performing well during the Modi government. In such a situation, investors are hopeful that more incentives will be given for investment if the Modi government is formed at the centre for the third time. With this hope, the stock market showed a bullish trend right from the beginning on Monday.
Let us tell you that PM Narendra Modi and Home Minister Amit Shah themselves had said in an interview to the media that buy shares and keep them, because the stock market is going to perform very well as soon as the BJP government is formed at the center for the third time. This advice of PM Modi and Shah seems to be a reason for excitement for investors. It is believed that if the results of the Lok Sabha elections come on June 4 according to the exit polls, then the Sensex and Nifty can jump even higher in the stock market. Let us tell you that during the 10-year tenure of the Modi government, foreign institutional investors also invested a lot of money in the stock market. However, during the Lok Sabha elections, foreign institutional investors also reduced their investment in the stock market, but if the Modi government comes to power at the center for the third time, then foreign investors are also expected to invest more money in the market.