Exit polls led Sensex and stop markets fly high!
The stock markets which were fluctuating for the past two weeks or so have boomed on Monday morning, all thanks to the Exit Polls surveys which have given a clear majority to the BJP. Within few seconds of opening, Bombay Stock Exchange (BSE) raked up over 900 points while National Stock Exchange (Nifty) shoot up 203.05 points.
The trend would be so for the rest of the day and investors are weighing heavily on BJP. Also, the Rupee gained considerably well against Dollar. The Indian currency appreciated by 79 paise to 69.44 and this is the biggest gain since December 2018.
On Friday, the Rupee closed at Rs 70.23 against Dollar. The Forex traders estimate that the market might be in the current mood till the results day and on May 23rd, it will definitely have an impact and if the Exit Polls prediction goes horribly wrong, then the market may collapse.