The BSE benchmark Sensex jumped 1,289.89 points to 80,407 in early trade. File.
| Photo Credit: PTI
Benchmark equity indices Sensex and Nifty surged in early trade on Monday (November 25, 2024), helped by across-the-board rally and the BJP pulling off a stunning performance in Maharashtra winning a record number of seats to propel the party-led ruling Mahayuti alliance to a landslide victory.
Extending its previous day’s sharp rally, the BSE benchmark Sensex jumped 1,289.89 points to 80,407 in early trade. The NSE Nifty surged 405.25 points to 24,312.50.
From the 30-share Sensex pack, Mahindra & Mahindra, Larsen & Toubro, State Bank of India, Reliance Industries, ICICI Bank and Bajaj Finance were the biggest gainers.
JSW Steel and Infosys were the laggards.
“The ability of the market to surprise was evident in the 557 points spurt in the Nifty on Friday. This sharp upswing will continue today assisted by the super NDA performance in Maharashtra. The political message from this election is huge and highly positive from the market perspective,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
The BJP on Saturday in Maharashtra won a record number of seats to propel the party-led ruling Mahayuti alliance to a landslide victory while the INDIA bloc stormed back to power in Jharkhand on the back of a spectacular showing by the JMM.
In Asian markets, Seoul and Tokyo were trading higher while Shanghai and Hong Kong were quoting lower.
The U.S. markets ended in positive territory on Friday.
“Sentiment is expected to remain positive following the BJP-led alliance’s significant victory in the Maharashtra assembly elections, along with a rally in global markets,” Vikas Jain, Head of Research, Reliance Securities, said.
Global oil benchmark Brent crude dipped 0.37% to $74.89 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,278.37 crore on Friday, to exchange data.
The BSE benchmark jumped 1,961.32 points or 2.54% to settle at 79,117.11 on Friday. The Nifty soared 557.35 points or 2.39% to 23,907.25.
Published – November 25, 2024 10:26 am IST