Lagatar24 Desk
Mumbai: The Indian stock markets witnessed a strong rally this morning, with the Sensex soaring 1,200 points, following the BJP-led National Democratic Alliance’s resounding victory in the Maharashtra Assembly elections. This political development, coupled with positive momentum in Adani Group stocks, buoyed investor sentiment.
The BSE Sensex opened at 80,193.47, gaining 1,200 points, while the Nifty 50 index surged by 346.30 points to reach 24,253.55. This marks a continuation of Friday’s bullish momentum, when the indices posted their best session since early June.
Adani Group Stocks Rebound
Adani Group stocks rebounded sharply after a recent sell-off sparked by bribery allegations against the conglomerate. Adani Energy and Adani Green recorded significant gains at market open. The Group had categorically denied the allegations, labeling them “baseless.”
Sectoral Gains and Market Trends
All 13 major sectors logged gains, with small- and mid-cap stocks rising by approximately 2% each. This broad-based rally reflects investor optimism amidst strong political and corporate cues.
The BSE benchmark had closed Friday’s session up by 1,961.32 points, or 2.54%, settling at 79,117.11, while the Nifty surged 557.35 points, or 2.39%, to close at 23,907.25.
Global Market Sentiment
Asian markets showed mixed trends. While Seoul and Tokyo traded higher, Shanghai and Hong Kong indices quoted lower, reflecting varied investor responses to global economic cues.
The BJP’s historic victory in Maharashtra, home to Mumbai, the financial capital of India, is seen as a key driver for this market exuberance. Analysts believe this landslide win will bolster investor confidence in the economic policies of the BJP-led government.
