The benchmark Nifty50 index on Tuesday closed above its crucial 9050-mark for the first time ever as investors saw Prime Minister Narendra Modi’s landslide victory in the Uttar Pradesh as an indication of him winning a second term in office in Lok Sabha elections 2019.
In intraday trade, the Nifty50 rose as much as 2% to hit its record high of 9,122 points surpassing its previous peak of 9,119 hit on March 4, 2015. The S&P BSE Sensex, meanwhile, gained 615 points to 29562 during the day, 463 points shy of its lifetime high of 30,025-mark.
The 30-share Sensex settled the trade at 29,443, up 496 points, while the broader 50-share Nifty ended at 9,087, up 152 points.
In the broader market, The BSE Mid-Cap and BSE Smallcap indices underperformed the frontline indices by rising 1.4% and 1.2%, respectively.
The market breadth, indicating the overall health of the market, remained strong. 1,686 shares rose and 1,135 shares fell. A total of 224 shares were unchanged.
The India volatility index (VIX), a gauge of the market’s short-term expectation of volatility, fell over 11%. Read more