New Delhi: After the victory of the Shinde faction in the Maharashtra Assembly Elections 2024, a bumper rally was seen in the stock market on Monday. Due to this investors are elated. This morning, after a two-day weekly holiday, the Sensex is trading above 80,400, while the Nifty is trading above the level of 24300, which shows a rise of more than 1.5 percent in both benchmark indices. All sectors are seeing a rise in today's early trade.

Investors benefited by 9 lakh crores.

Earlier on Friday, a huge surge was seen in the stock market. Nifty and Sensex have registered a gain of 4 percent in the last two trading sessions. On Monday, the market capital of all the companies listed on the Bombay Stock Exchange registered a jump of Rs 8.66 lakh crore, after which it rose to the level of Rs 441.37 lakh crore.

Impact of BJP's victory in Maharashtra elections

Let us tell you that the results of the Maharashtra and Jharkhand assembly elections were declared on Saturday. In which the BJP-led NDA alliance won 233 out of 288 seats, while in Jharkhand the opposition alliance led by former Chief Minister Hemant Soren has returned to power.

Adani shares surge

Recently, Adani shares fell sharply after the US prosecutors investigated and issued an arrest warrant against the country's leading businessman Gautam Adani on charges of bribery and fraud planning, although the shares bounced back well on Friday. On Monday too, Adani shares have registered a rise of 7 percent. In the last two trading days, the market cap of Adani Group shares saw a decline of more than $28 billion.

MSCI November Changes

The inclusion of BSE, Voltas, Alkem Laboratories, Kalyan Jewellers, and Oberoi Realty in the MSCI Global Standard Index has created positive sentiment among investors, the effect of which is being seen in the market.
 

Heavyweight stocks rise

On Monday, the market gained more than 1,200 points due to a surge in heavyweight stocks. Reliance Industries, HDFC Bank, ICICI Bank , L&T, and SBI contributed more than 700 points to the Sensex rally, with these stocks gaining 2% to 3.5%.