Indian Equity markets bullish on Opinion Polls

Nifty ends at 7014, Sensex up 557 points

Mumbai: Big bulls were raging on Dalal Street as bullish investors bet big on the Lok Sabha election outcome favouring NDA-led government. On heels of exit poll, it was another record breaking day with the Sensex ending above 23,500.

The Sensex was up 556.77 points or 2.42 percent at 23551. Nifty posted biggest two-day gains since August 2011 and ended at 7014.25, up 155.45 points or 2.27 percent. Dealers say that foreign investors are pumping heavy funds in India. Analysts feel it looks like some panic buying in anticipation of decisive mandate and Nifty may hit 7400 levels in current momentum.

Both the Nifty and Sensex gained over 5.3 percent in last two trading sessions. Bank Nifty gained over 300 points to end at life high of 14,091. HDFC Bank was top contributor to Bank Nifty, contributing over 170 points. ITC and HDFC Bank wre top contributors to Nifty, contributing over 40 points. PSU, oil & gas stocks lead market rally, gain over 3 percent each.

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