EBM News English
Leading News Portal in English

Sensex Breaks Records Post Modi’s Swearing-In

The NDA government has taken power, with PM Narendra Modi being sworn in for a third consecutive term. On Monday, the stock market responded positively to Modi 3.0, making history. The Bombay Stock Exchange’s 30-share Sensex opened at 77,017 and, with a strong gain of 323.64 points, crossed the 77,000 mark for the first time.

Meanwhile, the National Stock Exchange’s Nifty index also jumped 105 points at the market’s opening. On Friday, the last trading day of the previous week, the BSE Sensex and Nifty closed with strong gains. The BSE Sensex closed at 76,693.41, up by 1618.85 points or 2.16 percent.

The share market continued its upward trend last Friday. After opening at 77,017, the Sensex climbed to a new all-time high of 77,079.04. When trading began, around 2,196 shares rose and opened in the green, while 452 shares fell and opened in the red. Meanwhile, 148 shares remained unchanged.

In early trading, Adani Ports, Power Grid Corp, Bajaj Auto, Coal India, and Shriram Finance were the top gainers on the Nifty index. Meanwhile, Tech Mahindra, Infosys, Dr. Reddy’s Labs, LTIMindtree, and Hindalco also saw significant gains.

Shares of Indian billionaire Gautam Adani’s companies rose in the stock market, with Adani Ent, Adani Port, and Adani Power trading rapidly. Meanwhile, Reliance Industries, owned by Asia’s richest man Mukesh Ambani, saw its shares rise by about 1 percent. Among large-cap shares, Power Grid increased by 3.65 percent, UltraTech Cement by 2.36 percent, and Axis Bank by 1.74 percent.