Benchmark equity indices logged record opening highs on Tuesday after witnessing their biggest single-day gain on Monday since September 10, 2013.&nbsp;

At 9:30 am, Sensex was trading 188.29 points, or 0.48 per cent, higher at 39,540.96. In similar movement, the broader NSE Nifty was trading 49.60 points, or 0.42 per cent, up at 11,877.85.

Top gainers in the Sensex pack in morning trade include HDFC twins, Bajaj Finance, Coal India, RIL, Bajaj Auto, HUL, IndusInd Bank, Sun Pharma, Vedanta, Axis Bank and Asian Paints, rising up to 2.21 per cent.

On the other hand, Tata Motors, Yes Bank, Bharti Airtel, Tata Steel, SBI, Infosys, ONGC and TCS fell up to 3.18 per cent.

"Market has given a thumbs-up to exit poll numbers. Sentiments have turned around drastically and the benchmark indices can gain 5-8 per cent more from here over the next few weeks if the final election outcome is in line or even better than exit polls," said Gaurav Dua, Senior VP, Head Strategy and Investments, Sharekhan by BNP Paribas.&nbsp;

Meanwhile, Rupee trades flat at 69.80 against the dollar after a 1 per cent gain on Monday over exit poll results cheer.

Yesterday, Indian equities posted their biggest single-day gains in over six years, the rupee saw its best day in two months and government bond prices surged after exit polls predicted a clear mandate for the Narendra Modi-led NDA in the Lok Sabha elections.

The BSE Sensex vaulted 1,422 points to close at a record 39,352.67 -- the biggest one-day rise in the last six years.

The NSE Nifty surged over 421 points to log its best single day gains in over 10 years. 
 
(With inputs from PTI)

Benchmark equity indices logged record opening highs on Tuesday after witnessing their biggest single-day gain on Monday since September 10, 2013. At 9:30 am, Sensex was trading 188.

Benchmark equity indices logged record opening highs on Tuesday after witnessing their biggest single-day gain on Monday since September 10, 2013. At 9:30 am, Sensex was trading 188.29 points, or 0.48 per cent, higher at 39,540.96. In similar movement, the broader NSE Nifty was trading 49.60 points, or 0.42 per cent, up at 11,877.85. Top gainers in the Sensex pack in morning trade include HDFC twins, Bajaj Finance, Coal India, RIL, Bajaj Auto, HUL, IndusInd Bank, Sun Pharma, Vedanta, Axis Bank and Asian Paints, rising up to 2.21 per cent. On the other hand, Tata Motors, Yes Bank, Bharti Airtel, Tata Steel, SBI, Infosys, ONGC and TCS fell up to 3.18 per cent. "Market has given a thumbs-up to exit poll numbers. Sentiments have turned around drastically and the benchmark indices can gain 5-8 per cent more from here over the next few weeks if the final election outcome is in line or even better than exit polls," said Gaurav Dua, Senior VP, Head Strategy and Investments, Sharekhan by BNP Paribas. Meanwhile, Rupee trades flat at 69.80 against the dollar after a 1 per cent gain on Monday over exit poll results cheer. Yesterday, Indian equities posted their biggest single-day gains in over six years, the rupee saw its best day in two months and government bond prices surged after exit polls predicted a clear mandate for the Narendra Modi-led NDA in the Lok Sabha elections. The BSE Sensex vaulted 1,422 points to close at a record 39,352.67 -- the biggest one-day rise in the last six years. The NSE Nifty surged over 421 points to log its best single day gains in over 10 years. (With inputs from PTI)

Stock markets hit record opening high, Sensex crosses 39,500 mark for first time

Two days ahead of the Lok Sabha poll results, top opposition leaders will meet in the national capital on Tuesday to discuss the political situation and possibilities of a non-NDA alliance to stake claim for government formation.

As part of his efforts to unite the opposition, Andhra Pradesh Chief Minister and TDP leader N Chandrababu <a href="https://www.wionews.com/india-general-elections-2019/chandrababu-naidu-calls-on-mamata-banerjee-discusses-formation-of-non-bjp-government-220201">Naidu held a meeting with his West Bengal counterpart</a>, Mamata Banerjee, at her Kolkata residence on forming a non-BJP government at the Centre in case of a hung verdict.

Naidu had a 45-minute meeting with Banerjee on the future strategies of the "Mahagathbandhan" (Grand Alliance), during which he also discussed the possibilities of forming a non-BJP government, including regional parties, with the support of the Congress.

"It was decided at the meeting that a detailed discussion will be held with other players of the Mahagathbandhan in the event of a hung verdict after the poll results are declared on May 23," a source said.

The decision on Banerjee going to New Delhi would also be taken after May 23, the source added.

Samajwadi Party (SP) chief Akhilesh Yadav also telephoned Banerjee during the day and discussed the strategy of the "Mahagathbandhan", sources said.

Naidu has been moving around across the country and has held several rounds of discussions with top opposition leaders in a bid to unite them and form an alliance to stake claim to form the next government in case the NDA falls short of the majority mark.

The Telugu Desam Party (TDP) chief met Banerjee again on Monday evening to discuss the political scenario in the wake of the exit poll predictions.

On Sunday, Naidu met UPA chairperson Sonia Gandhi and Congress chief Rahul Gandhi separately in New Delhi, besides NCP supremo Sharad Pawar. The TDP leader has already met other top opposition leaders such as Bahujan Samaj Party (BSP) chief Mayawati and Akhilesh Yadav in Lucknow, Aam Aadmi Party (AAP) supremo Arvind Kejriwal, Left leaders and Sharad Yadav in Delhi.

Meanwhile, <a href="https://www.wionews.com/india-general-elections-2019/mayawati-meets-akhilesh-yadav-after-exit-polls-projections-220072">Akhilesh and Mayawati also held a meeting</a> and discussed their strategy going forward.

However, in view of the exit polls, most of which have predicted a majority for the BJP-led NDA, the opposition has turned a bit cautious and decided not to hold any formal meetings.

Top Congress leaders also held a meeting under the guidance of Sonia Gandhi on Saturday, where the current political situation was discussed.

Sources said the opposition strategy was to procure letters of support from various parties and in case of a hung verdict, to present the same before the president to stake claim to form the government.

They added that the opposition did not want to leave anything to chance and did not wish to waste any time in staking claim for government formation and thus, was putting its house in order.

Notwithstanding the exit poll predictions, the opposition is going ahead with its strategy as most parties have trashed the forecast and claimed that the NDA would not get a majority in the Lok Sabha.

Opposition leaders are citing previous examples when exit polls were proved wrong, as also elsewhere in the world like the surprise result in Australia.

Opposition leaders will also meet the Election Commission (EC) and raise the issue of tallying the paper trail of votes (VVPATs) with the electronic voting machine (EVM) figures as directed by the Supreme Court.

The opposition parties are demanding tallying of VVPAT slips with EVM figures in an entire Assembly constituency in case a discrepancy is found in any polling booth.

The court has asked the EC to tally the VVPAT slips with the EVM figures of five polling stations in each Assembly constituency across the country, which may delay the results.

According to sources, leaders of opposition parties such as the Congress, TDP, Left parties, BSP, NCP and TMC will informally meet on Tuesday to discuss the way forward in case the NDA fails to get to the majority mark.

Ahmed Patel and Ghulam Nabi Azad of the Congress, Sharad Pawar of the Nationalist Congress Party (NCP), TDP's Naidu, Satish Chandra Misra of the BSP, Sitaram Yechury of the Communist Party of India (Marxist), D Raja of the Communist Party of India (CPI) and Derek O'Brien of the TMC are expected to take part in Tuesday's meeting among others.&nbsp;

Two days ahead of the Lok Sabha poll results, top opposition leaders will meet in the national capital on Tuesday to discuss the political situation and possibilities of a non-NDA alliance to stake claim for government formation.

Two days ahead of the Lok Sabha poll results, top opposition leaders will meet in the national capital on Tuesday to discuss the political situation and possibilities of a non-NDA alliance to stake claim for government formation. As part of his efforts to unite the opposition, Andhra Pradesh Chief Minister and TDP leader N Chandrababu Naidu held a meeting with his West Bengal counterpart, Mamata Banerjee, at her Kolkata residence on forming a non-BJP government at the Centre in case of a hung verdict. Naidu had a 45-minute meeting with Banerjee on the future strategies of the "Mahagathbandhan" (Grand Alliance), during which he also discussed the possibilities of forming a non-BJP government, including regional parties, with the support of the Congress. "It was decided at the meeting that a detailed discussion will be held with other players of the Mahagathbandhan in the event of a hung verdict after the poll results are declared on May 23," a source said. The decision on Banerjee going to New Delhi would also be taken after May 23, the source added. Samajwadi Party (SP) chief Akhilesh Yadav also telephoned Banerjee during the day and discussed the strategy of the "Mahagathbandhan", sources said. Naidu has been moving around across the country and has held several rounds of discussions with top opposition leaders in a bid to unite them and form an alliance to stake claim to form the next government in case the NDA falls short of the majority mark. The Telugu Desam Party (TDP) chief met Banerjee again on Monday evening to discuss the political scenario in the wake of the exit poll predictions. On Sunday, Naidu met UPA chairperson Sonia Gandhi and Congress chief Rahul Gandhi separately in New Delhi, besides NCP supremo Sharad Pawar. The TDP leader has already met other top opposition leaders such as Bahujan Samaj Party (BSP) chief Mayawati and Akhilesh Yadav in Lucknow, Aam Aadmi Party (AAP) supremo Arvind Kejriwal, Left leaders and Sharad Yadav in Delhi. Meanwhile, Akhilesh and Mayawati also held a meeting and discussed their strategy going forward. However, in view of the exit polls, most of which have predicted a majority for the BJP-led NDA, the opposition has turned a bit cautious and decided not to hold any formal meetings. Top Congress leaders also held a meeting under the guidance of Sonia Gandhi on Saturday, where the current political situation was discussed. Sources said the opposition strategy was to procure letters of support from various parties and in case of a hung verdict, to present the same before the president to stake claim to form the government. They added that the opposition did not want to leave anything to chance and did not wish to waste any time in staking claim for government formation and thus, was putting its house in order. Notwithstanding the exit poll predictions, the opposition is going ahead with its strategy as most parties have trashed the forecast and claimed that the NDA would not get a majority in the Lok Sabha. Opposition leaders are citing previous examples when exit polls were proved wrong, as also elsewhere in the world like the surprise result in Australia. Opposition leaders will also meet the Election Commission (EC) and raise the issue of tallying the paper trail of votes (VVPATs) with the electronic voting machine (EVM) figures as directed by the Supreme Court. The opposition parties are demanding tallying of VVPAT slips with EVM figures in an entire Assembly constituency in case a discrepancy is found in any polling booth. The court has asked the EC to tally the VVPAT slips with the EVM figures of five polling stations in each Assembly constituency across the country, which may delay the results. According to sources, leaders of opposition parties such as the Congress, TDP, Left parties, BSP, NCP and TMC will informally meet on Tuesday to discuss the way forward in case the NDA fails to get to the majority mark. Ahmed Patel and Ghulam Nabi Azad of the Congress, Sharad Pawar of the Nationalist Congress Party (NCP), TDP's Naidu, Satish Chandra Misra of the BSP, Sitaram Yechury of the Communist Party of India (Marxist), D Raja of the Communist Party of India (CPI) and Derek O'Brien of the TMC are expected to take part in Tuesday's meeting among others.

Notwithstanding exit polls, opposition leaders set to meet on Tuesday

The Maha Exit poll 2019 of Zee Media Network predicts National Democratic Alliance (NDA) to win more than 300 seats in Lok Sabha election 2019, and that is a massive victory. So will PM Modi is getting a 2nd term for sure? or there is something more to witness on the judgement day on 23rd May?

Maha Exit Poll 2019: Over 300 seats for NDA; Modi set for 2nd term

Finance Minister Arun Jaitley Monday expressed hope that the results of the 2019 general election would be in consonance with <a href="https://www.wionews.com/india-general-elections-2019/exit-polls-2019-pm-modi-returning-to-power-with-300-plus-seats-say-pollsters-219927">the outcome of multiple exit polls</a>, which has predicted a second term for the Narendra Modi-led NDA government.

Most exit polls have forecast another term for Prime Minister Modi, with some of them projecting that BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha.

"Many of us may continue to squabble over correctness and accuracy of the Exit Polls. The hard reality is that when multiple Exit Polls convey the same message, the direction of the result broadly would be in consonance with the message," Jaitley said in a blog post titled 'The Message of Exit Polls'.&nbsp;

Observing that EVMs play no role in exit polls, the minister said if the actual results of the general election are in the same direction as exit polls, "the opposition's fake issue of the EVMs would also lose its non-existent rationale".

"If the Exit Polls are read along with the 2014 election results, it would be clear that there is a huge maturing of Indian democracy taking place. The electorate keeps national interest paramount before exercising a choice on whom to vote for. When well-meaning people with similar ideas vote in the same direction, it leads to the making of a wave," he said.

Referring to the Congress, Jaitley said that the Gandhi family has become a liability for the grand old party. "... In the Congress, the first family is no longer an asset but an albatross around the neck of the Party. Without the family, they don't get the crowd, with it they don't get the votes," he said.

He also said the personalised campaign against Prime Minister Modi did not cut much ice in 2014 and may not cut any ice in 2019.

"Leaders are judged on merit and not on caste or family names. Thus, the Prime Minister's style of rising above caste and concentrating on performance related issues received far more acceptability with the electorate," Jaitley said.

He said the voters are no longer willing to trust 'Coalition of Rivals' as their alliances are untenable.

The arithmetic of caste coalitions is no longer valid and has yielded place to the national interest. "Fake issues only satisfy the 'manufacturers of fakery'. The voters don't buy them," Jaitley added.&nbsp;

Finance Minister Arun Jaitley Monday expressed hope that the results of the 2019 general election would be in consonance with the outcome of multiple exit polls, which has predicted a second term for the Narendra Modi-led NDA government.

Finance Minister Arun Jaitley Monday expressed hope that the results of the 2019 general election would be in consonance with the outcome of multiple exit polls, which has predicted a second term for the Narendra Modi-led NDA government. Most exit polls have forecast another term for Prime Minister Modi, with some of them projecting that BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha. "Many of us may continue to squabble over correctness and accuracy of the Exit Polls. The hard reality is that when multiple Exit Polls convey the same message, the direction of the result broadly would be in consonance with the message," Jaitley said in a blog post titled 'The Message of Exit Polls'. Observing that EVMs play no role in exit polls, the minister said if the actual results of the general election are in the same direction as exit polls, "the opposition's fake issue of the EVMs would also lose its non-existent rationale". "If the Exit Polls are read along with the 2014 election results, it would be clear that there is a huge maturing of Indian democracy taking place. The electorate keeps national interest paramount before exercising a choice on whom to vote for. When well-meaning people with similar ideas vote in the same direction, it leads to the making of a wave," he said. Referring to the Congress, Jaitley said that the Gandhi family has become a liability for the grand old party. "... In the Congress, the first family is no longer an asset but an albatross around the neck of the Party. Without the family, they don't get the crowd, with it they don't get the votes," he said. He also said the personalised campaign against Prime Minister Modi did not cut much ice in 2014 and may not cut any ice in 2019. "Leaders are judged on merit and not on caste or family names. Thus, the Prime Minister's style of rising above caste and concentrating on performance related issues received far more acceptability with the electorate," Jaitley said. He said the voters are no longer willing to trust 'Coalition of Rivals' as their alliances are untenable. The arithmetic of caste coalitions is no longer valid and has yielded place to the national interest. "Fake issues only satisfy the 'manufacturers of fakery'. The voters don't buy them," Jaitley added.

Election results to be in consonance with exit polls outcome: Arun Jaitley

The domestic stock market on Monday closed at a historic high after <a href="https://www.wionews.com/india-general-elections-2019/sensex-surges-over-1000-points-may-cross-40000-as-exit-poll-predict-nda-win-220058">witnessing an eventful day of rallying</a> after exit polls predicted an easy win for the Bharatiya Janata Party-led National Democratic Alliance (NDA) in Lok Sabha 2019 polls.&nbsp;

BSE Sensex scaled 1,422 points to close at a record high of 39,353 while NSE Nifty surged 421 points to close at an all-time high of 11,828.&nbsp;

Sensex surged over 1000 points during the trade hours, and the rupee appreciated 79 paise against the US dollar. Domestic benchmark indices continued to extend their rally later in the day with the BSE Sensex climbing 1,300 points and Nifty touching 11,800 mark.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/sensex-jumps-over-1000-points-after-exit-polls-predict-nda-win-220065/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The 30-share index was trading 1,341 points close to the session end, higher at 39,271.77 points. In similar movement, Nifty soared 393.95 points, or 3.45 per cent, to 11,801.10.&nbsp;

Most exit polls Sunday forecast another term for Prime Minister Narendra Modi, with some of them projecting that BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha.

Pollsters predicted the <a href="https://www.wionews.com/india-general-elections-2019/bjp-in-countrys-hindi-heartland-exit-polls-spell-thumping-victory-for-party-in-madhya-pradesh-4-other-states-219985">BJP to make a clean sweet in the Hindi heartland</a> of the nation in states like Madhya Pradesh, Uttar Pradesh, Maharashtra, Bihar, Rajasthan, Gujarat and the national capital.&nbsp;

The results of the seven-phase polls will come out Thursday.

Meanwhile, European stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China's Huawei Technologies offset a slightly more positive tone on trade, news agency Reuters reported.&nbsp;

Asian shares managed to reverse some of last week's heavy losses on Monday after the United States said it would lift tariffs in North America, as investors cheered apparent wins by incumbent parties in elections in Australia and India.&nbsp;

Oil prices jumped after Saudi Energy Minister Khalid al-Falih said that there was a consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to "gently" reduce inventories.

Both US crude and Brent crude jumped more than 1.1% on Monday, with West Texas Intermediate fetching $63.5 a barrel and Brent crude at $73.04 per barrel, Reuters reported.&nbsp;

(With inputs from Reuters)&nbsp;

 
&nbsp;

The domestic stock market on Monday closed at a historic high after witnessing an eventful day of rallying after exit polls predicted an easy win for the Bharatiya Janata Party-led National Democratic Alliance (NDA) in Lok Sabha 2019 polls.

The domestic stock market on Monday closed at a historic high after witnessing an eventful day of rallying after exit polls predicted an easy win for the Bharatiya Janata Party-led National Democratic Alliance (NDA) in Lok Sabha 2019 polls. BSE Sensex scaled 1,422 points to close at a record high of 39,353 while NSE Nifty surged 421 points to close at an all-time high of 11,828. Sensex surged over 1000 points during the trade hours, and the rupee appreciated 79 paise against the US dollar. Domestic benchmark indices continued to extend their rally later in the day with the BSE Sensex climbing 1,300 points and Nifty touching 11,800 mark. The 30-share index was trading 1,341 points close to the session end, higher at 39,271.77 points. In similar movement, Nifty soared 393.95 points, or 3.45 per cent, to 11,801.10. Most exit polls Sunday forecast another term for Prime Minister Narendra Modi, with some of them projecting that BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha. Pollsters predicted the BJP to make a clean sweet in the Hindi heartland of the nation in states like Madhya Pradesh, Uttar Pradesh, Maharashtra, Bihar, Rajasthan, Gujarat and the national capital. The results of the seven-phase polls will come out Thursday. Meanwhile, European stocks slipped on Monday as concerns about an escalating fallout from a US crackdown on China's Huawei Technologies offset a slightly more positive tone on trade, news agency Reuters reported. Asian shares managed to reverse some of last week's heavy losses on Monday after the United States said it would lift tariffs in North America, as investors cheered apparent wins by incumbent parties in elections in Australia and India. Oil prices jumped after Saudi Energy Minister Khalid al-Falih said that there was a consensus among the members of the Organization of the Petroleum Exporting Countries to maintain production cuts to "gently" reduce inventories. Both US crude and Brent crude jumped more than 1.1% on Monday, with West Texas Intermediate fetching $63.5 a barrel and Brent crude at $73.04 per barrel, Reuters reported. (With inputs from Reuters)

After witnessing eventful day, stock markets close at record high; Sensex surges over 1,400 points 

Rashtriya Janata Dal (RJD) leader Tejashwi Yadav on Monday termed the exit polls as a trick by the RSS-backed institutions and asked all his supporters to reject it, a day after these polls gave NDA a comfortable majority to return to power at the Centre and not-so-good prospects for the opposition alliance in Bihar.

"Before the exit, the market`s own compulsions are sold in the name of Exit Polls. With the help of Sangh (RSS)-supported institutions and resources, playing with the psychology of the disadvantaged is their old weapon. Dismiss it. We are winning. Keep a close watch on the strong room. The tricks of people expert in playing the dirty games cannot be successful," Yadav`s said in a tweet.

National Conference leader Omar Abdullah had a different take on the exit polls."Every single exit poll can`t be wrong! Time to switch off the TV, log out of social media &amp; wait to see if the world is still spinning on its axis on the 23rd," tweeted National Conference (NC) leader Omar Abdullah.

Andhra Pradesh Chief Minister and <a href="https://www.wionews.com/india-general-elections-2019/hope-naidus-excitement-last-till-may-23-shiv-sena-mocks-andhra-cm-220025">TDP president N Chandrababu Naidu </a>on Sunday said that Exit Polls have failed to catch the people`s pulse."Time and again Exit Polls have failed to catch the people`s pulse. Exit polls have proved to be incorrect and far from ground reality in many instances. While undoubtedly TDP government will be formed in AP, we are confident that non-BJP parties will form a non-BJP government at the Centre," tweeted Naidu.

Exit polls on television channels on Sunday projected the BJP-led National Democratic Alliance (NDA) to retain power at the Centre with most of the pollsters giving Prime Minister Modi a clear majority again in the 543-member Lok Sabha.&nbsp;

Rashtriya Janata Dal (RJD) leader Tejashwi Yadav on Monday termed the exit polls as a trick by the RSS-backed institutions and asked all his supporters to reject it, a day after these polls gave NDA a comfortable majority to return to power at the Centre and not-so-good prospects for the opposition alliance in Bihar.

Rashtriya Janata Dal (RJD) leader Tejashwi Yadav on Monday termed the exit polls as a trick by the RSS-backed institutions and asked all his supporters to reject it, a day after these polls gave NDA a comfortable majority to return to power at the Centre and not-so-good prospects for the opposition alliance in Bihar. "Before the exit, the market`s own compulsions are sold in the name of Exit Polls. With the help of Sangh (RSS)-supported institutions and resources, playing with the psychology of the disadvantaged is their old weapon. Dismiss it. We are winning. Keep a close watch on the strong room. The tricks of people expert in playing the dirty games cannot be successful," Yadav`s said in a tweet. National Conference leader Omar Abdullah had a different take on the exit polls."Every single exit poll can`t be wrong! Time to switch off the TV, log out of social media & wait to see if the world is still spinning on its axis on the 23rd," tweeted National Conference (NC) leader Omar Abdullah. Andhra Pradesh Chief Minister and TDP president N Chandrababu Naidu on Sunday said that Exit Polls have failed to catch the people`s pulse."Time and again Exit Polls have failed to catch the people`s pulse. Exit polls have proved to be incorrect and far from ground reality in many instances. While undoubtedly TDP government will be formed in AP, we are confident that non-BJP parties will form a non-BJP government at the Centre," tweeted Naidu. Exit polls on television channels on Sunday projected the BJP-led National Democratic Alliance (NDA) to retain power at the Centre with most of the pollsters giving Prime Minister Modi a clear majority again in the 543-member Lok Sabha.

Exit poll results are wrong, the opposition is winning: Tejashwi Yadav

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