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Investors gain Rs.12.48 trillion from sharp market rally in early trading
Investors' wealth jumped Rs 12.48 lakh crore in morning trade on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls.
The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade.
Following the huge rally in equities, the market capitalisation of BSE-listed companies climbed Rs 12,48,952.68 crore to hit an all-time peak of Rs 4,24,61,833.82 crore (USD 5.10 trillion) during the morning trade.
Exit polls on Saturday predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls.
The counting of votes will take place on June 4.
"The exit poll numbers are very strong for the incumbent government," Narendra Solanki, Head Fundamental Research - Investment Services, Anand Rathi Shares and Stock Brokers, said.
Overall it's positive for the .