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Markets cheer Modi 3.0, extend gains for 2nd day

Thu, 06 June 2024
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10:24
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Benchmark equity indices Sensex and Nifty began the trade on a buoyant note on Thursday, continuing to rally for the second day running, after leaders of the BJP-led National Democratic Alliance (NDA) unanimously elected Narendra Modi as their leader. 

 Extending its previous day's sharp rally, the 30-share BSE Sensex jumped 696.46 points to 75,078.70 in early trade. The NSE Nifty climbed 179.15 points to 22,799.50. Among the 30 Sensex companies, NTPC, State Bank of India, Power Grid, Tata Steel, Tech Mahindra and HCL Technologies emerged as the biggest gainers. Hindustan Unilever, Nestle, Sun Pharma and Asian Paints were among the laggards. 

 Leaders of the NDA unanimously elected Narendra Modi as their leader on Wednesday. Modi is all set to take charge as the prime minister for a historic third consecutive term with the NDA winning 293 seats in the Lok Sabha polls.