Sensex rose 1290 points, Nifty crossed 24300
New Delhi|Banking and market expert Ajay Bagga said that “the recently concluded elections in Maharashtra, the results of which were announced on 23 November, will have an immediate positive impact on the stock markets”. A landslide victory for the BJP-led coalition in the Maharashtra state elections could provide a short-term boost to Indian stock markets, which are going through a downward spiral He further said that “investors will consider this mandate favorable for the ongoing capital expenditure and infrastructure in Maharashtra”. The beneficiary sectors of this election are industry, infrastructure, manufacturing, real estate and financial”.
Among the regional indices of the National Stock Exchange, Nifty Realty and Nifty PSU Bank rallied with gains of over 2 per cent, while other major indices also gained over 1.5 per cent, including Nifty Metal, Nifty Media and Nifty Oil & Gas.
On the Nifty 50 list, 49 shares rose during the opening session, while only one share fell. Mr Finance started as the top gainer in Nifty 50. At the time of filing this report, Adani Group shares also increased by about 2 percent. Adani Green also climbed about 4 percent during this time.
In Asian markets, indices in Japan and South Korea rose. The Nikkei 225 index rose by more than 1.5 percent, Kospi in South Korea also rose by 1.5 percent, Taiwan’s weighted index rose by 0.48 percent, while Hong Kong’s Hang Seng index fell marginally by 0.14 percent at the time of filing this report.