BJP's victory in three state elections caused the BSE Sensex to rise by 1383.93 points

The Bharatiya Janata Party won elections in Chhattisgarh, Madhya Pradesh, and Rajasthan the day before, and on Monday, the Bombay Stock Exchange's Sensex surged by a whopping 1383.93 points.

At a lifetime high of 68,865.12 points, the index finally settled. The Nifty of the National Stock Exchange closed at a record 20,686.80 points after rising to 418.90 points.

Strong macroeconomic data, the BJP's victory, low crude oil prices, and the ease with which interest rates are expected globally all contributed to the record highs in investor sentiment.

Congress won Telangana, while the BJP won three states. While the BSE Sensex increased by 2.05 percent, the NSE Nifty increased by 2.07 percent. Additionally, the two benchmarks had their best session in more than 14 months.

According to Reuters, investor investment has improved due to favorable political outcomes from state assembly elections, robust macroeconomic data, and an improving global environment. Gaurav Dua is the senior vice president and head of capital market strategy firm Sharekhan. He predicted that Nifty would rise even higher before the Lok Sabha elections.

Also read: NSSO Survey: Gujarat exhibited the lowest rate of unemployment

On Monday, eleven of the thirteen major sectors reached new all-time highs. Sector gains were led by gains in energy stocks (2.61%) and financial services (3.23%). According to the report, the two indexes make up roughly 46.5% of the Nifty 50 index's weight.

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