• Source:JND
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Stock Market Today: The Indian stock market benchmarks, the Nifty 50 and the Sensex hit record highs in early trade after most exit polls on Saturday, June 1, predicted that the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) could win more than 350 of the 543 seats in the 2024 Lok Sabha elections.

The Indian stock market shrugged off election-related volatility as the exit poll showed that the BJP-led NDA was poised to return to power with a substantial majority.

The BSE Sensex rose 2,622 points or 3.5% to hit a new all-time high of 76,583, while the NSE Nifty 50 climbed 807 points to a new high of 23,337. At around 10:10 am, the senses were trading at around 76,037, up 21,000 points, and Nifty 50 was at around 23,191, up by 658 points.

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All stocks on the Sensex were trading up, led by NTPC, SBI, Axis Bank, Power Grid, L&T, UltraTech Cement M&M, and ICICI Bank. These all shares were up in the range of to 7 percent. meanwhile, The Nifty Smallcap index rallied up t 2.73% in the broader markets, while the Midcap index surged 2.5%.

Sectorally, the broad-based rally was led by the Nifty PSU Bank index (up 5%), the Nifty Bank index (up 3%), and the Nifty Realty index (up 4%).

Stocks like  Shriram Finance, Adani Ports, and Power Grid were the top gainers in early trade, rising 6-9% each. Meanwhile, Adani Ports stock gained up to 9% after the company's wholly-owned subsidiary Adani International Ports Holdings Private Limited (AIPH) signed a 30-year concession agreement with the Tanzania Ports Authority. The Indian firm will manage Container Terminal 2 at Dar es Salaam Port in Tanzania.

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