BSE Sensex Surges Over 900 Points, Nifty Hits Record High After BJP Victory In MP, Rajasthan And Chhattisgarh

On Monday (4 December), equity benchmark indices continued their upward trend for the fifth consecutive session. This was driven by investors who, already encouraged by robust macroeconomic data, reacted favorably to the BJP's triumph in three assembly elections.

At 9.40 am, the 30-share BSE Sensex climbed by over 900 points to 68,435 in early trade. The Nifty went up by over 300 points to record high of 20,601.

This comes after Prime Minister Narendra Modi led BJP on Sunday emerged victorious in the elections held in three out of the four states.

The BJP retained power in Madhya Pradesh and wrested control of Rajasthan and Chhattisgarh from the Congress. On the other had, the Congress was able to flip the state of Telangana, where it defeated the K Chandrashekar Rao-led Bharat Rashtra Samithi.

Analysts have noted a surge in positive sentiment, propelled by the BJP's decisive victories in the state elections of Madhya Pradesh, Rajasthan, and Chhattisgarh, building upon the optimism sparked last week by strong GDP figures and consistent foreign fund inflows.

The sentiment among investors was further buoyed by crude oil prices remaining below $80 per barrel, they added.