Better-than-expected exit polls that showed clear majority for the Narendra Modi-led NDA (National Democratic Alliance) in the Lok Sabha elections 2019 gave an over 1,000-point lift to the S&P BSE Sensex on Monday.
The rally was broad-based as all the sectors, barring information technology (IT), witnessed heavy buying. Heavyweights such as ICICI Bank, RIL (Reliance Industries), HDFC and Larsen & Toubro (L&T) rallied over 4 per cent each in intra-day trade.
Meanwhile, volatility index India VIX declined as much as 18 per cent to 22.91, suggesting volatility in the market is likely to ease in the coming weeks.
Investor sentiment,