Stock markets staged a further rally on Tuesday with the S&P BSE Sensex surpassing the 24000-mark intra-day. The Sensex closed at 23871.23 with a gain of 320.23 points or 1.36 per cent. In the last three trading sessions, the Sensex gained 1527.19 points.
On the National Stock Exchange (NSE), the 50-share Nifty gained 94.50 points to close at 7108.75. . It touched an intra-day high of 7172.35.
“Exit poll predictions surpassed all expectations and led the continuation of the market rally. With most predictions favouring a strong NDA government, the market is looking very strong and buoyant,” said Sudip Bandyopadhyay, Managing Director, and CEO, Destimoney Securities.
Among other Asian markets, Nikkei closed 1.95 per cent higher with Hang Seng also posting a rise of 0.41 per cent.
Rupee surges 37 paise
Tracking rising stocks, the rupee on Tuesday surged 37 paise to end at a nine-month high of 59.68 against the dollar on robust foreign capital inflows into equities after exit polls projected BJP-led NDA would form the next government at the Centre. Weakness of the dollar in New York also boosted the rupee that posted its strongest gain against the dollar in two weeks, a forex dealer said.
The rupee resumed higher at 59.70 a dollar as against the last closing of 60.05 at the inter-bank foreign exchange market. It firmed up further to a high of 59.59, before ending at 59.68 a dollar.