Brief by Shorts91 Newsdesk / 05:10am on 03 Jun 2024,Monday Business
Indian stocks hit record highs on exit polls favoring Prime Minister Narendra Modi's government for a third term. The NSE Nifty 50 jumped 2.65% to 23,129.35 points, and the S&P BSE Sensex rose 2.62% to 75,903.97 points by 9:33 a.m. IST, with both indices opening over 3.5% higher. Financials and public sector banks led gains, up 3% and 4.4% respectively, while energy and oil & gas sectors also surged around 4%. Small- and mid-cap stocks, focused on domestic markets, saw a 3% rise each. Analysts believe the market's optimism stems from expectations of policy continuity and economic growth under the current government.
