LIVE Market Updates: Sensex, Nifty Hit Fresh Record Highs
LIVE market updates: The Sensex and Nifty have risen in four out of five consecutive sessions
The S&P BSE Sensex and NSE Nifty 50 Indexes are set to open higher on Thursday, as counting of votes began for the general elections. Early trends showed that the Bharatiya Janata Party led National Democratic Alliance (NDA) was leading on over 180 seats while Congress led UPA was gaining on over 80 seats. Meanwhile, the Nifty futures traded on Singapore Exchange rose 52 points to 11,832 indicating a strong start for Indian equity benchmarks. On Wednesday, the Sensex and Nifty resumed their upmove after a day's break, with the S&P BSE Sensex ending 0.36 per cent and the NSE Nifty 0.25 per cent higher. With that, the benchmark equity indexes registered gains in four out of five consecutive sessions. Sensex and Nifty will reach a new record high by the end of the year, according to a poll of strategists by news agency Reuters, building on an election-driven rally in which investors have bet the ruling party will retain power and continue current economic policies. On Monday, the Sensex registered its biggest single-day gain since September 2013 after exit polls showed the National Democratic Alliance (NDA) party led by Prime Minister Narendra Modi will retain power for a second consecutive term.