Indian stock markets hit all-time high after exit polls predict PM Modi's return

MUMBAI: With exit polls predicting a possible return of Narendra Modi as Prime Minister, India’s equity markets buoyed and reached a crescendo giving euphoria to investors. Sensex and Nifty rose 3 percent while BSE Sensex crossed 75,500 points in early trade. Meanwhile, Nifty50 registered its biggest jump at the market opening in four years. 12.48 lakh crore has been added to the market capitalization of Bombay Stock Exchange (BSE) stocks.

Investors are optimistic and are betting for PM Modi to continue providing a conducive platform for infrastructure and manufacturing to thrive, thus accentuating the economy to new heights. The Nifty gained 800 points or 3.58 per cent to 23,227.90 and the Sensex gained 2,621.98 points or 3.55 per cent to 76,583.29. The top performers are Adani Ports, Adani Enterprises, Power Grid, Shriram Finance, and NTPC.

Investors are also placing high hopes about PM Modi bringing in the needed land and labour reforms to set the economy soaring in India. This crucial reform is expected to put India in the third position just behind China and the US in the list of best-performing economies in the world.