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Sensex breaches 25,000-mark as BJP leads in vote count

Mumbai, May 16, 2014, IANS
People look at a screen across the road displaying the election results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai May 16, 2014. Reuters photo
Indian stocks were virtually on fire leading a key index to breach 25,000 points mark, as Narendra Modi-led Bharatiya Janata Party took a big early lead in India's national election vote count.

Around 10.50 a.m., the sensitive index (Sensex) of the Bombay Stock Exchange was ruling at a never before high of 25,375.63 points against the previous close of 23,905.60 points, to log a single-day gain of 871.39 points, or 3.65 percent.

Analysts said the markets were afire expecting a stable government under BJP's prime ministerial candidate Narendra Modi, who is also seen as a industry-friendly leader. Every industry-specific index was trading at record highs, exchange data showed.

The 50-scrip Nifty of the National Stock Exchange also surged in a similar fashion.

According to officials at the markets watchdog Securities and Exchange Board of India (SEBI), a close watch will be kept on market movements Friday during the counting of votes to prevent any disorderly trading.

 

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