Indian bourses are expected to a rally on Monday after exit polls of the 2019 Lok Sabha elections projected Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) to win a comfortable majority. Analysts said the equity market has already priced in Narendra Modi's win, however, the exit poll numbers will further boost Indian benchmark indices BSE Sensex and NSE's Nifty 50.
A News18-Ipsos exit poll has predicted NDA winning 336 out of 542 seats, with BJP gaining 276 seats and allies seen taking 66 seats. Congress-led United Progressive Alliance is likely to win 82 seats, with the grand old party taking 46 seats and the rest of 36 to allies.
On Friday, the Sensex surged 537.29 points, or 1.44 percent, to 37,930.77, and the Nifty 50 rallied 150.05 points, or 1.33 percent, to 11,407.15. For the week, the Sensex rose 467.78 points or 1.24 percent, and the Nifty gained 128.25 points or 1.13 percent.
Share markets in Asia got off to a steady start on Monday as investors tried to catch their breath following another week of escalating trade tensions between the United States and China.
At 7:05 AM, the SGX Nifty, a key indicator for the Indian market surged 2.16 percent, at 11,681, indicating a positive start for the Sensex and the Nifty.
Stocks to watch: Tata Motors, Jet Airways, InterGlobe Aviation in focus. Click here to know more.
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