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Riding on early election trends, Sensex rises over 600 points; Nifty tops 11,900

File photo. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India May 23, 2019, 09.22 AM (IST)

With early trends in Lok Sabha polls counting indicating NDA win, markets opened on a strong note on Thursday with Sensex and Nifty scaling record highs.

The benchmark BSE Sensex jumped over 600 points in early trade. In similar movement, the broader NSE Nifty rose to 11, 900.

IndusInd Bank was the top percentage gainer on the Nifty, rising 5%, while State Bank of India Ltd climbed 3.2% higher. Index heavyweights Reliance Industries Ltd was 2% higher while Housing Development Finance Corp Ltd climbed 2.5%. Only one stock was trading lower on the Nifty. 

Exit polls have predicted a massive and comfortable win for Modi-led Bharatiya Janata Party in Lok Sabha polls 2019. The markets are expected to remain action-packed today.

Watch: Record high opening for Indian markets

The BSE Sensex index rose by its biggest amount in one day since September 2013 on Monday after exit polls showed the National Democratic Alliance (NDA) party led by Prime Minister Narendra Modi will retain power for a second consecutive term.