Mumbai, May 24: Taking a cue from the victory of the Narendra Modi government in the Lok Sabha Elections 2019, benchmark domestic indices- BSE Sensex and NSE Nifty opened higher on Friday. The BSE, which had closed in red on Thursday climbed up higher by 178 points at 38,989.97. Meanwhile, NSE Nifty was up by 43 points at 11,700.20.

On Thursday, for the first time ever, Sensex crossed the 40,000 mark after trends showed that Prime Minister Narendra Modi-led coalition will come to power with a landslide victory in the recently concluded general elections. In an unexpected turn later in the day, the markets witnessed a sharp fall in the second half owing to profit booking that washed away all the early gains.  Sensex Slips 299 Points After Hitting 40,000 Mark.

At the closing bell, equity benchmark indices gave up early gains and slipped into red on Thursday. Profit booking dragged the stocks lower despite the mandate to Modi for pursuing business-friendly policies and taking decisive action on national security.

(The above story first appeared on LatestLY on May 24, 2019 10:48 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).