Indian stock markets soared after the BJP-led NDA achieved a landslide victory in Maharashtra. The state is home to Mumbai, India’s financial capital.
Indices Jump with Optimism
The BSE Sensex opened strong at 80,193.47 points. By 11 am, it surged nearly 1,300 points. The Nifty 50 also gained 346.30 points, opening at 24,253.55.
On Friday, both indices had their best session since June. The Sensex rose by 1,961.32 points (2.54%) to close at 79,117.11. The Nifty climbed 557.35 points (2.39%) to settle at 23,907.25.
Broad Market Gains
All 13 major sectors posted gains. Small- and mid-cap indices rose by about 2% each, reflecting widespread investor confidence.
Adani Stocks Recover
Adani Group stocks rebounded sharply after a previous sell-off caused by bribery allegations. The company denied the claims, calling them “baseless.” At market open, Adani Energy and Adani Green led the recovery.
BJP’s Historic Win Boosts Confidence
The BJP and its allies secured a record-breaking victory in Maharashtra. Their success in the state propelled the Mahayuti alliance to a historic win. This outcome strengthened investor confidence in the ruling party’s leadership and economic policies.
Mixed Trends in Asian Markets
Asian markets showed mixed trends. Seoul and Tokyo indices traded higher, while Shanghai and Hong Kong experienced losses.
This surge in the Indian stock market signals growing optimism about political stability and economic growth following the BJP’s victory.