Stock market surges ahead of poll results

With nearly a fortnight left for the results of Lok Sabha polls, benchmark stock indices Sensex and Nifty zoomed more than 1.6 per cent to close at lifetime high levels on Thursday, making investors richer by Rs 4.28 lakh crore.

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Regaining the 75,000 level, the BSE Sensex ended at an all-time peak of 75,418.04, up by 1,196.98 points or 1.61 per cent. During the day, it zoomed 1,278.85 points or 1.72 per cent to reach its all-time intra-day high of 75,499.91. The index logged its biggest single-day gain since January 29.

The NSE Nifty inched closer to the 23,000 mark during the day. The 50-is-sue index went up by 369.85 points or 1.64 per cent to 22,967.65. During the day, it jumped 395.8 points or 1.75 per cent to 22,993.60 -- its intra-day record peak.

“Nifty shrugged off some of the uncertainty related to election results and hit a new high today,” said Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities.