Nifty and Sensex surge on BJP alliance victory despite partial gains

The Nifty and Sensex indices closed with strong gains due to the BJP-led Mahayuti Alliance's victory in Maharashtra. Despite some intraday highs being pared, the market saw broad-based gains across all sectors.

The Sensex finished at 80,109.85, up 1.25 percent or 992.74 points, while the Nifty closed at 24,221.90, up 1.32 percent or 314.60 points. Top gainers on the Nifty included ONGC, Bharat Electronics, L&T, Shriram Finance, and SBI.

The rally was supported by positive performances in Asian and US markets, indicating a positive sentiment among investors. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, emphasized the significant political message from the election results, suggesting a highly positive outlook for the market.

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