The BJP’s victory in Maharashtra has had a huge impact on the stock market. On Monday, the first trading day of the week, Bombay Stock Exchange’s 30-share Sensex (Snesex) took a sharp jump from its previous closing level of 79,117.11 and started trading crossing the 80,000 level, while the Nifty of the National Stock Exchange (Nifty) also began trading with a jump of 24,273 points. Meanwhile, a stormy rise has once again been observed in the shares of government companies.
Sensex-Nifty off to a good start
The stock market started at the green mark on Monday, the first trading day of the week. Both the Sensex-Nifty indices opened with strong gains. BSE Sensex jumped 1,200 points and opened above 80,000 and reached 80,407 within a few minutes, while NSE Nifty also started trading with a rise of over 370 points and was seen trading at 14,280 level. Signs of optimism were already visible in the market, in the pre-opening session Sensex was seen trading with a jump of over 900 points and when the market opened, a similar jump was seen. In addition to this, tremendous growth was being witnessed in Asian markets and the Japanese Nikkei-Kospi index was trading in the green zone, while Gift Nifty had risen by 500 points.
There was a big rise in the stock market on Friday
Previously, on Friday, the last trading day of last week, there was a stormy rise in the stock market. Just before the assembly election results in Maharashtra, the 30-share Bombay Stock Exchange’s Sensex had risen 2,000 points, while the National Stock Exchange’s Nifty had risen about 600 points. By the end of market trading, this pace had slowed down slightly, but despite this, the BSE Sensex closed at the level of 79,117.11 with an increase of 1961.32 points or 2.54 per cent, while NSE’s Nifty index closed up 557.35 points or 2.39 per cent had closed at the level of 23,907.25.
BJP scores excellent victory in Maharashtra
In Maharashtra, the BJP-led Mahayuti alliance won the assembly elections, while Congress’s Maha Vikas Aghadi (MVA) was eliminated. Mahayuti has won 233 seats in the 288-seat assembly state. While MVA is reduced to only 49 seats. The BJP contested the elections on 149 seats, of which it hoisted the victory flag on 132 seats. However, defying exit poll predictions, JMM is going to form the government in Jharkhand for the third time.
(Note: Before making any kind of investment in the stock market, definitely consult your market experts.)
