Sensex, Nifty hit record high as NDA leads in early trends

NEW DELHI: Equity indices hit an all time high on Thursday as counting of votes began for the Lok Sabha election across the country.

The benchmark BSE sensex breached the 40,000 mark for the first time ever and is rallying 946 points or 2.42 per cent up at 40,056.58. Similarly, the broader NSE Nifty hit the 12,000 mark and is trainge 280.15 points or 2.39 per cent up at 12,018.05.

According to traders, investor sentiment was boosted by initial trends that suggested a win for the ruling NDA.

The counting exercise is on in over 4,000 counting centres. Most of the exit polls have predicted that the BJP-led National Democratic Alliance (NDA) is likely to retain power for a second term.

Top gainers in morning trade in the sensex pack include Yes Bank, IndusInd Bank, SBI, LT, ICICI Bank, Kotak Bank and Reliance, rising up to 8 per cent.

On the other hand, Vedanta, IT, and TCS fell up to 0.45 per cent.

In the previous session, the sensex ended 140 points or 0.36 per cent higher at 39,110.21 and the Nifty ended 28.80 points or 0.25 per cent higher at 11,737.90.

The rupee opened strong at 69.45 at the interbank forex market, then gained further ground and touched 69.40, displaying gains of 26 paise over its last close.

Elsewhere in Asia, bourses in China, Japan and Korea were trading on a negative note in their respective early sessions.

Brent crude, the global benchmark, was trading at 70.58 per barrel, lower by 0.58 per cent.