Continuing the Friday pullback, the Indian stock market showed strong momentum on Monday morning. Major indices surged: the Nifty 50 opened with a gap-up at 24,253, quickly reaching an intraday high of 24,330, marking a 423-point jump from Friday’s close of 23,907. The BSE Sensex started at 80,193 and climbed to an intraday peak of 80,452, gaining 1,355 points. Similarly, the Nifty Bank index rose to 52,232, with an intraday gain of approximately 1,100 points.
The rally is attributed to the BJP-led NDA’s decisive victory in the Maharashtra Assembly Elections. Palka Arora Chopra, Director at Master Capital Services, explained, “The election results promise political stability in Maharashtra, boosting investor sentiment. This stability is likely to favor sectors like infrastructure, urban development, and manufacturing, which align with BJP’s economic policies.”
Highlighting sector-specific shifts, Mahesh M Ojha, AVP—Research at Sensex Securities, noted a change in investment strategy. “Post-Lok Sabha elections, investors leaned towards defensive sectors like FMCG and pharma. However, with the Maharashtra results, focus is shifting to aggressive sectors like railways, infrastructure, and banking.” This shift reflects renewed confidence in growth-driven policies and projects expected from the new government”.
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