Markets cheer BJP wins, hit record high

December 04, 2023 15:52

India's benchmark indices, Sensex and Nifty, soared to unprecedented highs during Monday's market opening. This surge was fuelled by the recent triumph of the ruling Bharatiya Janata Party (BJP) in state elections, coupled with robust domestic macroeconomic data and mounting expectations of a US rate cut in March.

As the Sensex and Nifty reached their all-time highs, market experts provided insights into the driving forces behind this impressive rally.

Sunil Shah attributed the surge to the favourable outcome of state election results, stating, "Only one reason I would accurate to this rally, Sensex is up by more than 900 points, the reason is the outcome of state election results and results are in favour of the ruling party".

Shah added, "It's a huge mandate by the people and that makes the market feel very comfortable that if this was considered to be semi-final, the final will be played in the month of May and the outcome is now more predictable than before. So investors are confident about the continuation of the policies and this growth momentum and the thrust of the government where it is, so the growth is the focus area of the government".

« Back to LIVE

TOP STORIES

French gold medallists Perec and Riner light Olympic cauldron

They were each handed a torch in the Jardin des Tuileries after several top sporting names, including French soccer great Zinedine Zidane, Spain's 14-times French Open tennis champion Rafael Nadal, American 23-times Grand Slam winner...

In Pictures - France Wows With Spectacular Olympics Opening

France showcased its cultural diversity, spirit of revolution, impeccable craftsmanship, and architectural heritage in a riveting opening ceremony for the 33rd Olympic Games.

Paris Opening: Of Lady Gaga, cabaret and a mystery torchbearer

Lady Gaga brings cabaret to Paris opening ceremony on the Seine

In Pictures - Flag bearers Sindhu, Kamal lead India in floating parade

For the first time in Olympic history, the Opening Ceremony is being held on the banks of the river Seine. More than 6,500 athletes in around 90 boats will sail past the iconic monuments of Paris.

All you must know about the Olympics surfing in Tahiti

Surfing makes its second Olympic appearance at the Paris 2024 Games after a successful debut in Tokyo, with competition being held this time on the French Polynesian island of Tahiti.