The BSE Sensex on Monday rose to its new life-time high after
Bharatiya Janata Party (BJP) registered win in polls to the four state Assemblies.
The Sensex rose around 450 points in early morning trade on improved investor sentiment, reflecting prospects of a BJP gcvernment led by Gujarat CM Narendra Modi in 2014 Lok sabha polls.
The Sensex regained the 21,000 levels on Monday and managed to close at 21,326 points, a gain of about 329 points from the last close.
This helped investor wealth soar by about Rs 75,000 crore.
The index had failed to close above 21,000 levels during the last two trading sessions.
Besides BJP's strong performance in Assembly polls in four states, sustained capital inflows and a firming trend in the global markets also helped markets cement gains.
Ahead of Lok Sabha polls, BJP on Sunday handed a severe 4-0 drubbing to Congress in polls in which it snatched Rajasthan and retained Madhya Pradesh with landslide wins, holding on to power in Chhattisgarh and good show in Delhi.
NSE benchmark index Nifty followed suit and closed 1.66 per cent higher to 6,363 points, bouyed by investor sentiments.
Bank stocks rose the most led by Oriental bank of Commerce ( 7.42 per cent), IndusInd Bank (4.62 per cent), and Canara Bank
(5 per cent).
Among sectoral indices, the BSE capital goods indice (3.14 per cent) was the top gainer, followed by BSE Bankex indice (2.93 per cent). The BSE consumer durable indice fell 0.11 per cent- the only indice to post losses.
Among gainers, Oriental Bank stock (7.42 per cent) rose the most on the BSE, followed by DLF ( 6 per cent), Bharti Infratel ( 5.17 per cent) and ICICI Bank ( 5.16 per cent)
On the Sensex, 26 stocks closed higher. ICICI bank rose 7.42 per cent, followed by Sesa Sterlite (5.04 per cent) , and Larsen and Toubro ( 4.52 per cent). Jindal Steel stock fell 6.01 per cent, the most on the Sensex.
Among BSE heavyweights, Reliance Industries rose 1.30 per cent amd Infosys ended 0.3 percent higher.
Market breadth was positive with 283 stocks closing higher against 206 stocks falling on the BSE 500.
-With agency inputs
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