Sensex Crosses 80,000-Mark Following BJP’s Victory in Maharashtra; Nifty Surges
Mumbai, Nov 25: Indian benchmark indices surged in early trade on Monday, with the Sensex crossing the 80,000-mark after the landslide victory of the BJP-led MahaYuti alliance in Maharashtra. The Sensex rose by 1,173.91 points or 1.48% to 80,291.02, while the Nifty gained 367.00 points or 1.54% to reach 24,274.30.
Market breadth was positive, with 2,371 stocks advancing, 292 declining, and 121 remaining unchanged. Adani Enterprises, Shriram Finance, M&M, Bharat Electronics, and BPCL were among the major gainers on the Nifty, while JSW Steel emerged as the top loser.
All sectoral indices were trading in the green, with auto, bank, media, telecom, oil and gas, power, and realty sectors rising by 1-2% each. The BSE midcap and smallcap indices both climbed by 1.5%.
Market experts pointed to the sharp upward movement as a reflection of the positive political outcome in Maharashtra, which has given a boost to investor sentiment. “This sharp upswing will continue today, assisted by the super NDA performance in Maharashtra. The political message from this election is huge and highly positive from the market perspective,” said experts.
Banking and IT stocks are expected to perform well, supported by strong valuations and reasonable growth prospects. Capital goods, telecom, and pharma stocks are also expected to see positive movement.
Akshay Chinchalkar, Head of Research at Axis Securities, noted that with the Nifty holding the key 23,200 level last week, there is potential for the index to extend its gains toward 24,500. He pointed out that seasonality trends have historically been positive during this period, with the Nifty rising 80% of the time and an average return of over 4%.
On November 22, Indian indices had already recorded their biggest single-day gains in over five months, driven by broad-based buying and a recovery in Adani Group stocks. This positive momentum continued into Monday’s session, fueled by political optimism and strong market fundamentals.
