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Sensex crosses 40,000-mark as election trends show second term for Narendra Modi

File photo. Photograph:( Reuters )

WION Web Team New Delhi, Delhi, India May 23, 2019, 10.33 AM (IST)

The benchmark BSE Sensex rallied over 800 points to cross the 40,000-mark while Nifty touched 12000 for the first time as trends showed return of NDA government. 

The 30-share index zoomed over 900 points to hit an intra-day high of 40,012.35. Similarly, the broader NSE Nifty spurted 265 points to touch a record 12,003.50.

Top Sensex gainers included Yes Bank, IndusInd Bank, L&T, SBI, ICICI Bank, Kotak Bank, RIL and HDFC twins, surging up to 8 per cent.

While, Vedanta, ITC and TCS slipped up to 0.45 per cent.

According to traders, investor sentiment was boosted by initial trends that suggested a second term for the Narendra Modi-led NDA.

Meanwhile, foreign institutional investors sold equity worth Rs 965.02 crore on Wednesday, while domestic institutional investors sold shares to the tune of Rs 157.75 crore, provisional data available with stock exchanges showed.

Elsewhere in Asia, bourses in China, Japan and Korea were trading on a negative note in their respective early sessions.