After Modi win, investors’ wealth up by Rs 3.86 lakh crore in two days

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Published: May 27, 2019 6:15:50 PM

The 30-share BSE Sensex gained 871.9 points in two days after the election result.

Among the major stocks in the Sensex-pack that gained are Tata Steel, YES Bank, NTPC, Larsen and Toubro, Axis Bank and State Bank of India.

After Modi government’s landslide victory, the wealth of investors rose by Rs 3.86 lakh crore in two days of stock market rise. The 30-share BSE Sensex gained 871.9 points in two days after the election result. On Monday, the Sensex ended the day at 39,683.29, higher by 248.57 points. The market capitalisation of the companies listed on the BSE was up by Rs 3,86,220.41 crore to Rs 1,54,11,395.90 crore in the period under review. The market cap of BSE listed firms stood at Rs 1,50,25,175.49 crore at the close of trade on Thursday. On may 23, the election result day, Sensex touched a record high of 40,124.95 during the trade. The Modi government was re-elected with a massive mandate, giving rise to a market rally on account of  a stable government.

The domestic and foreign investors are on a roll ever since Modi-led NDA registered a huge victory in the Lok Sabha polls. Among the major stocks in the Sensex-pack that gained are Tata Steel, YES Bank, NTPC, Larsen and Toubro, Axis Bank and State Bank of India. The BSE capital goods, power, industrials, utilities, metal and realty indices rallied nearly 3.06 per cent. The BSE Midcap index gained 1.13 per cent and BSE Smallcap 1.77 per cent.

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Meanwhile, the benchmark indices closed at another record highs on Monday as the rally due to BJP-led NDA win continued to cheer the markets. While Sensex closed 248.57 points, or 0.63 per cent, higher at 39,683.29, Nifty jumped 80.65 points, or 0.68 per cent, to 11,924.75. The stock market touched a high of 11,957.15 and a low of 11,812.40. The stock markets in Asia closed on a mixed note, while European bourses traded in green in their respective early deals.

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