Stock Market Live NEWS: Indian Stock Market at All-Time High; A day before election results

Nifty futures on the Nifty International Exchange traded 805 points, or 3.55 per cent, higher at 23,493, hinting at a start at new all-time high for the domestic market on Monday after the exit polls results indicating a landslide victory for the BJP led NDA alliance and Narendra Modi getting a third term as the prime minister of India.

A day before the country heads into election results, frontline equity indices Sensex and Nifty 50 continued its bull run on Monday (June 3) on the back of strong investors sentiment. BSE Sensex closed 2,507 points, or 3.39 per cent higher at 76,468.78 while Nifty 50 closed at 733.20 points, or 3.25 per cent higher at 23,263.90.

The domestic indices opened at record high with Nifty 50 advancing 3.58 per cent, or 807.20 points higher at 23,337.70 and Sensex trading 2,621.98 points, or 3.55 per cent higher at 76,583.30. On similar lines, Nifty Bank opened above 50,000 for the first time ever after exit polls suggested a return for the Modi government with a thumping majority.

The Indian government bond yields dropped marginally with the benchmark 10-year yield slipping at 6.9541 per cent after previous close of 6.95 per cent. All sectoral indices inched higher with PSU Bank and PSE indices being top gainers. India VIX, or ‘Fear Index’, continues to hover around 20 after slipping nearly 15 per cent. The currency market also witnessed a stronger start on the back of stronger equity markets. In the first trading session of this week, the Indian rupee opened at 82.99 against the US dollar. The rupee had closed 82.46 against the American currency on Friday.

Nifty Midcap 100 inched 1,390.65 points, or 2.69 per cent higher at 53,098.05 while Nifty Smallcap 100 inched 349.20 points, or 2.09 per cent higher at 17,044.35.