Sensex on roll, rallies 459 pts ahead of exit poll results

Continuing its record-setting spree, the benchmark BSE Sensex surged nearly 459 points to hit new record high of 23,453.29 ahead of the exit poll results after market hours today.

The rally was led by strong showing in banking, capital goods, oil and gas and PSU stocks amidst sustained capital inflows.

The 30-share Sensex soared by 459.06 points, or 1.99 per cent, to trade at an all-time high of 23,453.29 at 1145 hrs. The NSE 50-share barometer Nifty rose by 129.45 points, or 1.8 per cent, to scale a new high of 6,988.25.

Brokers said buying activity gathered momentum as participants engaged in creating widespread positions ahead of the exit poll results later in the day. The rupee's rise against the American currency too had a positive impact on trading sentiment, they added.

The rupee surged past the 60 level against the dollar and was quoted at 59.51 in late morning trade. The domestic currency had closed at 60.04 on Friday.

"Besides a flurry of buying and covering-up of pending short positions by speculators who are now turning buyers also rallied the market," a Delhi-based stock broker said.

The major gainers were SBI (3.19 pct), ICICI Bank (1.08 pct), Axis Bank (2.33 pct), RIL (2.55 pct), ONGC (2.06 pct), Tata Steel (2.30 pct), Maruti Suzuki (2.25 pct), Infosys (1.27 pct) HDFC Bank (4.27 pct), HDFC (2.96 pct), BHEL (3.43 pct), Larsen and Toubro (2.21 pct).