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Rupee, Markets Rise On Exit Poll Predictions As Rs. 3.2 Lakh Crore Added

Rupee, Markets Rise On Exit Poll Predictions As Rs. 3.2 Lakh Crore Added

Stocks added Rs. 3,18,000 crore to investor kitty on Dalal Street on Monday, as a landslide victory for NDA projected by exit polls in just concluded elections came in better than market expectations. 

Within 60 seconds into trading, the market value of all BSE companies together, also known as market capitalisation, climbed Rs 3.18 lakh crore to Rs 1,49,76,896 crore over Friday’s close of Rs 1,46,58,710 crore. With this, the market value of domestic stocks has risen by Rs 5.39 lakh crore.

By 9.20 am, the BSE benchmark Sensex had hit a high of Rs 38,892.89, up 962 points, or 2.53 per cent. The Nifty50 climbed 287 points, or 2.51 per cent to hit a high of 11,648.70. Fear guage India VIX plunged 18 per cent to 22.92. But traders said market gains would be kept in check ahead of the vote counting on Thursday.

Rupee on Monday climbed to a two-week high of 69.39 against the US dollar.

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