Indian stock markets experienced a significant surge of over 3 percent by the closing session on Wednesday, bouncing back from the losses incurred during the election results.
The Sensex opened 270.85 points higher at 72,349.90, while the Nifty gained 156.30 points, starting the day at 22,040.80. Among the Nifty companies, 40 showed advances, and 10 recorded declines.
At the opening bell, the Sensex plunged by 1,135.48 points to 75,333.30, while the Nifty dropped by 408.35 points to open at 22,855.55. Among the Nifty companies, only 6 were advancing, and 44 were declining, reflecting widespread caution among investors.
Indian benchmark indices closed at record highs on Monday, driven by fresh buying from investors after exit polls indicated a comfortable majority for the NDA government.
Ajay Bagga, banking and market expert, commented on the market performance, stating, "Monday is witnessing a gap-up opening, but we anticipate further upside on Tuesday as actual trends become clearer."
Stock markets may reach new heights says market experts post exit poll outcomes. Most of the exit polls gave Modi led NDA government a comfortable win, have enthused market experts.
The Sensex surged by 132.44 points, closing at 73,961.31, while the Nifty climbed by 42.05 points, reaching 22,530.70. The upbeat sentiment was reflected in the performance of Nifty-listed companies, with advances outnumbering declines.
The Nifty index fell by 0.95 percent, losing 216 points to close at 22,488.65. Similarly, the BSE Sensex dropped by 0.83 percent, shedding 617 points to end at 73,885.
Indian stock markets closed marginally below on Tuesday after a high volatility during the trading. The equity markets experienced a pause after a three-day streak of record highs.