After an all time high in NIFTY and the Sensex touching the 40K mark, the markets closed on a low, neutralizing the gains made during the day.
At the time of closing, the Sensex was down 298.82 points and ended at 38,811.39, while Nifty was down 55.40 points ending up at 11682.50.
It's a historic day for the markets. After Sensex recorded more than 40,000 mark on Thursday, Nifty Crossed 12,000 Mark for the first time following the early trends showing a clear majority for the BJP led NDA.
The Sensex crossed the 40,000 mark on Thursday, after early trends from the counting of Lok Sabha Elections 2019 indicated that the BJP Led NDA will cross the 300 seat figure.
Sensex Reaches 39,872 Points as Early Trends Show BJP led NDA Leading.
The sensex on Thursday, on the day of counting of Lok Sabha Elections 2019, opened with a high of 650 points on Thursday morning, as exit polls show BJP led NDA heading towards majority.
Sensex hits high as early trends show BJP led NDA moving towards majority mark. Sensex nears 40,000 mark.
The counting of votes for the Lok Sabha Elections 2019, which concluded on Sunday, May 19, is underway and the results are expected to have an effect on the markets on Thursday, May 23. Majority of the exit polls released on Sunday, May 19, gave a clear majority to BJP led NDA and Prime Minister Narendra Modi, which impacted the markets as huge surge was seen the following day on Monday. According to a report in Business Today, the wealth of investors grew by Rs 5.33 lakh crore on BSE, a day after the exit polls predicted Narendra Modi led NDA coming back to power. Lok Sabha Elections 2019 Results LIVE News Updates.
Equity benchmark indices ended Wednesday's session with minor gains amid volatile trade as investors remained cautious on the eve of general elections outcome. The BSE S&P Sensex closed 140 points higher at 39,110 while the Nifty 50 was up 29 points at 11,738. Among sectoral indices at the National Stock Exchange, FMCG, IT and media were in the red while others showed marginal gains.
On Monday, the Sensex had touched historic highs following exit polls forecasting an overwhelming majority for Prime Minister Narendra Modi in the just-concluded general elections. Market experts are of the view that if the BJP led NDA comes to power, it can have an even bigger impact on the Sensex indices.
(The above story first appeared on LatestLY on May 23, 2019 09:06 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).