Sensex surges over 21,000 level as exit polls suggest BJP win in Assembly polls

Dec 05 2013, 11:50 IST
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Market gains are broad-based, with all components of both the BSE and the broader NSE index gaining. Market gains are broad-based, with all components of both the BSE and the broader NSE index gaining.
SummaryBenchmark BSE index rises after exit polls showed opposition BJP gaining in state Assembly polls.

The BSE Sensex today surged over 439 points, or 2.12 per cent, to regain 21,000 level at 21,148.26 in opening trade.

The benchmark BSE index rose on Thursday to approach a record high after exit polls predicted a strong showing for the key opposition party in Assembly elections held since November.

The gains were broad-based, with all components of both the BSE and the broader NSE index gaining. Results for Assembly elections are due on Sunday. Confirmation of a strong showing by the Opposition BJP would bolster the chances of victory in general elections due by May, according to analysts. BJP is perceived by many investors as being more business friendly.

Still, opinion and exit polls have a patchy track record in India. Most surveys forecast the wrong outcome in the 2004 general election.

The BSE index rose to as high as 21,165.60 points, approaching a record high of 21,321.53 points hit on November 3.

The broader NSE Nifty rose 1.98 per cent, after hitting a session high of 6,300.55 points, not far from a record 6,357.10 points hit on Jan. 8, 2010.

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