The S&P BSE Sensex hit the 40,000 mark on Thursday, after trends showed Narendra Modi - led National Democratic Alliance (NDA) sweeping to power in the Lok Sabha elections 2019. While most experts had predicted Modi-led NDA to come back to power for the second consecutive term, markets, they said, had been discounting this.
The recent rally has been led by financial stocks. On Thursday, the Nifty Bank index (up 1.9 per cent) has been one of the top gainers with IndusInd Bank, Bank of Baroda, State Bank of India (SBI), YES Bank and ICICI Bank among the key gainers,