The breadth of the market favoured the advances as 1466 stocks advanced and 306 declined while 340 remained unchanged on the NSE. On the BSE, 1933 stocks advanced, 634 declined and 157 remained unchanged.
With Exit Polls clearly indicating Modi-led NDA to make a thumping return to power on May 23 with New18 IPSOS predicting NDA to get 336 seats while UPA may get a mere 82 seats out of the total 543 Lok Sabha seats, the benchmark indices have rallied over 3.5 percent. Nifty50 zoomed 382 points, trading at 11,789, while the Sensex rallied 1296 points and is trading at 39,222.
Nifty PSU Bank continues to outperform jumping over 7 percent led by Bank of Baroda, Bank of India, State Bank of India, Syndicate Bank, Canara Bank, IDBI Bank and Union Bank of India among others.
Oil & gas stocks are also rallying Reliance Industries, HPCL, BPCL, Indian Oil Corporation, Reliance Infra, ONGC and Tata Power.
From the infra space, the top gainers are Adani Power, Adani Ports, BHEL, CG Power, Engineers India, IRB Infra, Larsen & Toubro, NBCC, NCC, Reliance Infra, Reliance Power, Siemens and Vodafone Idea.
Real Estate stocks are also buzzing led by Indiabulls Real Estate, Sobha, DLF, Oberoi Realty and Sunteck Realty.
From the auto space, the top gainers are Maruti Suzuki, Mahindra & Mahindra, Ashok Leyland, Tata Motors, Tata Motors DVR, Hero MotoCorp and Apollo Tyres.
India VIX is down 14.96 percent at 23.88 levels.
The top Nifty gainers included Indiabulls Housing Finance, State Bank of India, Adani Ports, HDFC and Grasim Industries while Dr Reddy's Labs, Zee Entertainment, Tech Mahindra, Bajaj Auto and Infosys are the top losers.
The most active stocks were SBI, Reliance Industries, ICICI Bank, Axis Bank and Indiabulls Housing Finance.
Bajaj Finserv, Bajaj Finance, DCB Bank, Federal Bank, HDFC, HDFC Bank, ICICI Bank, ICICI Lombard General Insurance, Kotak Mahindra Bank, PVR, State Bank of India, Titan Company, UltraTech Cement have hit new 52-week high on NSE.
The breadth of the market favoured the advances as 1466 stocks advanced and 306 declined while 340 remained unchanged on the NSE. On the BSE, 1933 stocks advanced, 634 declined and 157 remained unchanged.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.