Sensex breaches 40K, Nifty 12K as Modi takes lead

The BSE Sensex and NSE Nifty have touched historic 40,000 and 12,000 marks respectively, as the markets cheered the return of Narendra Modi-led National Democratic Alliance government.

The markets opened over 1% higher as the early leads suggested a huge victory for the Modi –led government. The markets continued to witness heavy buying and Sensex breached the historic 40,000-mark at 10:30 am in the morning. BSE Sensex is down 584 points from the historic level of 40,124 points, on the back of profit booking. At the time of filing this copy, Sensex was trading at 39,540.80 points.

During the day’s trade Sensex touched the intra-day high of 40,124.96 points. However, after testing the historic value, the markets witnessed the sell-off, as investors looking forward to the profit booking

The overall market breadth is heavily positive with 1,466 advances, against 589 declines on BSE.

Similarly the broader index, 50-share NSE Nifty tested the historic 12,000 level for the first time in the history and touched and intra-day high of 12,041.15 points. At the time of filing this copy, the Nifty was trading at 11,868.95, up 131 points.

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Benchmark indices had surged about 4% a day after the exit polls predicted the return of Narendra Modi-led NDA to power.