Sensex, Nifty race over 3% to record highs as exit polls predict massive win for BJP-led NDA

Benchmark stock indices Sensex and Nifty rallied more than 3% to close at lifetime highs on June 3 following across-the-board buying as exit polls predicted a massive win for the BJP-led NDA in the general elections.

Benchmark stock indices Sensex and Nifty rallied more than 3% to close at lifetime highs on June 3 following across-the-board buying as exit polls predicted a massive win for the BJP-led NDA in the general elections.

The 30-share BSE Sensex soared by 2,507.47 points or 3.39% to settle at a new closing peak of 76,468.78, marking its biggest single-day gain in three years. During the day, the barometer jumped 2,777.58 points or 3.75% to hit a record intra-day peak of 76,738.89.

The NSE Nifty climbed 733.20 points or 3.25% to finish at 23,263.90. During the day, it soared 808 points or 3.58% to hit a fresh intra-day all-time high of 23,338.70.

A sharp rally in blue-chip stocks Reliance Industries, ICICI Bank, HDFC Bank and State Bank of India propelled the indices to lifetime high levels. Strong GDP data also added to the buoyancy in equity markets.

Shares of all Adani Group companies continued their sharp rally on June 3, with Adani Power surging nearly 16%, in line with a massive surge in the equity market.

Among sectors, PSUs, Power, Utilities, Oil, Energy, Capital Goods, and Realty indices soared up to 8%.

Exit polls on Saturday predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls.