Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
On the back of Exit Polls 2024 predicting landslide victory for Prime Minister Narendra Modi’s BJP-led NDA, shares of billionaire Gautam Adani’s multi-billion dollar conglomerate zoomed 16 per cent on Monday.
The combined market capitalisation of Adani Group’s 10 listed stocks rose by nearly Rs 1.4 lakh crore, taking the total market value of the conglomerate to Rs 19.24 lakh crore.
Meanwhile, the Indian equity benchmarks opened at an all-time high in the wake of Saturday’s exit polls.
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In the early morning trade, Sensex surged almost 2600 points to 76,582 points and Nifty gained 800 points to open at 23,338 points.
Most exit polls have predicted Modi’s return as PM with a landslide victory for the BJP-led NDA. The exit polls have given the NDA alliance over 360 seats even as the Opposition claimed they will win not less than 295 seats.
While the actual results will be announced on June 4, the exit polls predictions have prompted a bull run on Dalal Street.
Adani Power was among the biggest gainers as the stock rallied 16 per cent to hit a fresh 52-week high of Rs 875 on BSE.
Within the Nifty 50 pack, Adani Ports surged 9 per cent return, followed by a 7 per cent upside in Adani Enterprises.
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