During the day, Sensex and Nifty hit the levels of 40,000 and 12,000, respectively, for the first-ever time

stocks, stock market, BSE, NSE, sensex, nifty

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		Benchmark indices tumbled over 1,300 points from its intraday high as investors booked profits at higher levels that saw Sensex and Nifty hitting 40,000 and 12,000 levels, respectively, over optimism surrounding the National Democratic Alliance (NDA&#39;s) likely return to power after the 2019 Lok Sabha election.</div>
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		The S&P BSE Sensex hit the 40,000 mark on Thursday, after trends showed Narendra Modi - led NDA sweeping to power in the Lok Sabha elections 2019.&nbsp;<a href="https://www.business-standard.com/article/elections/lok-sabha-election-results-2019-live-updates-vote-counting-for-india-general-elections-2019-narendra-modi-government-bjp-congress-rahul-gandhi-evm-vvpat-news-119052300116_1.html?1558602722" target="_blank"><strong>FOLLOW ELECTION RESULTS LIVE HERE</strong></a></div>
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	The Sensex recorded its sharpest intra-day fall in the past 11 years in absolute terms. The index closed at 38,811 levels - down 299 points fir the day and&nbsp;1,314 points from intra-day high level of 40,125. In the process, the index posted its sharpest intra-day decline since January 21, 2008. Vedanta Limited, ITC, Tata Motors, HDFC Bank, Bajaj Finance led the list of losers. Out of the 30 BSE constituents, 16 ended in the red.<br />
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	The broader Nifty50 index dipped 0.7 per cent to end the day at 11,657 levels. The market breadth was tilted in favour of sellers. About 920 stocks declined and 810 shares advanced on the NSE.<br />
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	In the broader market, the S&P BSE MidCap index dropped 21 points, or 0.15 per cent, at 14,650 levels, while the S&P BSE SmallCap index concluded the day 16 points, or 0.11 per cent, lower at 14,353 levels.<br />
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		Sectorally, all the indices on NSE, except Nifty Media and Realty, settled lower at the day&#39;s end, with Nifty FMCG bleeding the most 1.7 per cent, followed by Nifty Metal 1.48 per cent. The Nifty Bank index, which hit 31,000-level earlier in the day, dipped 118 points to 30,409 levels.</div>
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		<strong>BUZZING STOCKS</strong></div>
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	IndusInd Bank shares surged 8 per cent to Rs 1,640 in early trade on Thursday on the BSE before ending the day 5 per cent higher on expectation that the bank would return to normalcy in terms of earnings momentum after the entire exposure to IL&FS was classified as non-performing asset (NPA) in the fourth quarter of fiscal 2018-19 (Q4FY19). <strong><a href="https://www.business-standard.com/article/markets/indusind-bank-surges-18-from-wednesday-s-low-post-q4-results-119052300356_1.html?1558592787" target="_blank">READ MORE</a></strong><br />
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	Shares of Adani Group companies surged up to 14 per cent intra-day on the BSE on Thursday as trends showed the Narendra Modi-led National Democratic Alliance (NDA) leading the vote counts for the 2019 Lok Sabha election. <a href="https://www.business-standard.com/article/markets/adani-group-shares-rally-adani-ports-adani-enterprises-hit-52-week-highs-119052300905_1.html?1558600723" target="_blank"><strong>READ MORE</strong></a></div>
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Sensex hits 40k; dips 1,314 pts from high by close; Nifty holds 11,650

Business Standard

Sensex hits 40k; dips 1,314 pts from high by close; Nifty holds 11,650 | News on Markets - Business Standard

'Market rally post BJP win offers a good opportunity to rejig portfolio'

A clear mandate to Narendra Modi&ndash;led National Democratic Alliance (NDA) for the second time in a row lifted the S&amp;P BSE Sensex and the Nifty50 to 40,000 and 12,000 levels, respectively for the first time ever. JITENDRA GOHIL, head of India equity research, Credit Suisse Wealth Management tells Puneet Wadhwa that before the new government takes up any major reforms such as in land and labour, we expect that the regulators and the government to address the liquidity issues with respect to NBFCs. <a href="https://www.business-standard.com/article/markets/market-rally-post-bjp-win-offers-a-good-opportunity-to-rejig-portfolio-119052300849_1.html?1558599713" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Jitendra Gohil, head of India equity research at Credit Suisse Wealth Management" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2019-03/24/full/1553433519-7859.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Jitendra Gohil, head of India equity research at Credit Suisse Wealth Management" width="620" /></div>
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<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Resounding victory of BJP reinforces voter’s choice of their most able leader to lead the nation. Markets got off to a roaring start, reflecting sentiment of the nation. Unfinished agendas will get continuity and time to usher in prosperity and growth, both for Bharat and India.</p>&mdash; Harsh Goenka (@hvgoenka) <a href="https://twitter.com/hvgoenka/status/1131470531914489857?ref_src=twsrc%5Etfw">May 23, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

NEWS ALERT |  BJP's Tejasvi Surya wins Bengaluru South seat: CNBC TV18

NEWS ALERT | PM Modi likely to address the nation at 6 pm today

- BJP Parliamentary board meeting at 5:30 pm meeting today.<br />
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Israel PM, Benjamin Netanyahu, says well done, my friend

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Congratulations, my friend <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@Narendramodi</a>, on your impressive election victory! The election results further reaffirm your leadership of the world&#39;s largest democracy. Together we will continue to strengthen the great friendship between India &amp; Israel.<br>Well done, my friend! 

Opposition reacts | Mamata Banerjee says, "not all losers are losers"

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Congratulations to the winners. But all losers are not losers. We have to do a complete review and then we will share our views with you all. Let the counting process be completed fully and the VVPATs matched</p>&mdash; Mamata Banerjee (@MamataOfficial) <a href="https://twitter.com/MamataOfficial/status/1131467755616530433?ref_src=twsrc%5Etfw">May 23, 2019</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

NEWS ALERT | Rahul Gandhi wins from Wayanad, Kerala

NEWS ALERT | Farooq Abdullah declared winner from Srinagar

<blockquote class="twitter-tweet" data-conversation="none" data-cards="hidden" data-partner="tweetdeck"><p lang="hi" dir="ltr">आज पूरा विश्व प्रधानमंत्री <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@NarendraModi</a> जी के निर्णायक नेतृत्व, विकास के प्रति संकल्प, देशभक्ति और जनसेवा के प्रेरणा से प्रभावित है। <br><br>देशवासियों को विश्वास है कि प्रधानमंत्री जी के कुशल नेतृत्व और जनसेवा के संकल्प से भारत अब एक विश्व शक्ति बनने की ओर अग्रसर है। <a href="https://twitter.com/hashtag/VijayiBharat?src=hash&amp;ref_src=twsrc%5Etfw">#VijayiBharat</a></p>&mdash; Chowkidar Piyush Goyal (@PiyushGoyal) <a href="https://twitter.com/PiyushGoyal/status/1131466325090377729?ref_src=twsrc%5Etfw">May 23, 2019</a></blockquote>
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EXPERT COMMENT: Sahaj Agrawal, Kotak Securities

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	Nifty continues to remain structurally positive for the medium term; 12,400/12,500 can be conquered going ahead. For the May series, we expect the index to trade in the range of 11,700-12,000. Consolidation at current levels is healthy as we have recently witnessed a strong recovery from 11,100 levels to test 12,000 on the higher sider. Broader market health is improving but we are seeing lack of momentum and hence expecting consolidation in the near-term.</div>

EXPERT COMMENT | Rashesh Shah, CEO, Edelweiss

<blockquote class="twitter-tweet" data-partner="tweetdeck"><p lang="en" dir="ltr">The election verdict is out. Congrats to PM Modijee and the entire BJP team and to the NDA alliance. This will be start is an exciting phase for India as we build on the refoms of the last innings. We look forward to India moving from usd 3 trn to 5trn</p>&mdash; Rashesh Shah (@rasheshshah) <a href="https://twitter.com/rasheshshah/status/1131469394725543936?ref_src=twsrc%5Etfw">May 23, 2019</a></blockquote>
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Sensex hits 40k; dips 1,314 pts from high by close; Nifty holds 11,650

During the day, Sensex and Nifty hit the levels of 40,000 and 12,000, respectively, for the first-ever time

'Market rally post BJP win offers a good opportunity to rejig portfolio'

Sectoral trends on NSE

Top gainers and losers on S&P BSE Sensex

Market check