Sensex, Nifty hit record highs following BJP’s election victory

The BSE Sensex and Nifty reached unprecedented highs on Monday, propelled by the financial and energy sectors, as state election results injected fresh vigour into the market. This surge was fuelled by robust macroeconomic data and the easing of global interest rate expectations.

The Nifty experienced a substantial increase of 1.65%, reaching a new record high of 20,602.50 points for the second consecutive session, while the Sensex surged by 1.64%, establishing an all-time high at 68,587.82 as of 9:51 a.m. IST.

The financial services sector witnessed an uptick of 1.8%, while energy stocks saw a 2% increase, spearheading the sectoral advancements.

Leading the index were heavyweight players such as Reliance Industries, ICICI Bank, and HDFC Bank, each gaining between 1% and 3%.

In a parallel upward trajectory, small and mid-cap stocks both recorded gains of about 1%, also achieving new all-time highs.