Sensex, Nifty Close At Record Highs On State Elections Boost

Financial and energy stocks led Indian shares to new all-time highs on Monday as key wins for BJP in state elections lifted the broader domestic market, already boosted by strong macroeconomic data and easing global interest rate expectations.

News Dec 4, 2023 0 54 Add to Reading List

Sensex, Nifty Close At Record Highs On State Elections Boost

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The sensex jumped 1,383.93 points and settled at an all-time high of 68,865.12 on Monday. Nifty alsp jumped 418.90 points and closed at record 20,686.80. The jump follows BJP's big win in three statev elections yesterday.

The energy stocks climbed 3% and financial services rose up 2.6%, leading sectoral gains. Small- and mid-caps gained about 1% each, also hitting new all-time highs, according to news agency Reuters.

BJP won in three out of four states yesterday including Rajasthan, Madhya Pradesh and Chhattisgarh and lost to Congress only in Telangana.

The Nifty had hit a record high on Friday, on the back of strong quarterly growth and monthly factory activity data.

On Friday, the Nifty had hit a record high on Friday too, on the back of strong quarterly growth and monthly factory activity data.

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