On Wednesday, the benchmark equity indices Nifty50 and Sensex surged over 3%, driven by heavyweight stocks like Reliance Industries and banking shares. This rally came after two crucial allies committed their backing to establish a new government, following a closely contested victory for the BJP-led NDA alliance.
The NSE Nifty 50 index ended up 3.4% at 22,620.35 points and the S&P BSE Sensex rose 3.2% at 74,382. The Nifty Bank saw its best percentage gain since February 1, 2021, when union budget-related announcements drove the market up nearly 5%.
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