Nifty Hits High on Exit Polls Result
Market Indices Rally:
- The stock market saw a positive end to Monday’s trading session.
- The NSE Nifty 50 gained over 700 points, while the BSE Sensex jumped by more than 2500 points.
- Large-cap and Mid-cap stocks led the gains in the broader indices.
Bank Nifty Hits Record High:
- The Bank Nifty index surged by over 4%, reaching a new all-time high.
- Key banks like the Bank of Baroda and the State Bank of India contributed to this milestone.
Crude Oil Outlook:
- Crude Oil Outlook: Analysts are expressing a robust bullish sentiment on crude oil prices, projecting a positive trajectory for the medium to longer term. This optimistic outlook is underpinned by factors such as OPEC+ extending its production cut policy and the encouraging economic data from Asian powerhouses like China and India. These factors are driving a strong sense of confidence and security in the crude oil market. Crude oil prices are expected to remain supported around $75, with the potential to rise above $80 in the coming weeks.
Stock News:
- Rail Vikas Nigam Ltd. (RVNL) shares surged over 11%, crossing the Rs 400 mark for the first time and setting a new record at Rs 425. This also pushed the company’s market capitalization close to ₹85,000 crore.