Live Stock Market: Nifty Rises on Exit Poll Findings Showing Excellent NDA Performance

Toay’s big move on the Indian stock market began when the Nifty index rose by 659.00 points, or 2.90 percent, to 23,348.00. This remarkable performance is indicative of investors’ increasing confidence, which is being propelled by positive exit poll findings and impending significant events.


Stock Market Rally on Election Confidence

According to exit polls published on Saturday, Prime Minister Narendra Modi is expected to hold onto office for a third term in a row. It is predicted that the National Democratic Alliance (NDA) would secure 350–401 seats. The markets’ mood has improved dramatically as a result of this prognosis, which has lessened the uncertainty around the election that affected them in May.

“The exit poll results, which suggest a clear victory for the NDA with around 360 seats, have alleviated the election jitters that hit the markets in May,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The bulls have received a significant lift from this prognosis, which has caused the market to rise sharply.”


Key Events Ahead

The Reserve Bank of India’s (RBI) interest rate decision on June 7 and the publication of the general election results on June 4 are the two key events that analysts stress will determine the performance of the equities market this week. The election results have been the most significant development in the previous five years, and market investors are paying close attention to these occurrences.

According to Santosh Meena, Head of Research at Swastika Investmart Ltd., “A positive surprise from the exit polls could spark a rally, but the market is cautious about the event.” On the other hand, an unfavourable surprise from the real findings can cause a hasty decision.”


Economic Growth Boost

The Stock Market has been supported not just by the favourable political outlook but also by better-than-expected GDP growth. The 8.2 percent growth rate of the economy in FY24 is anticipated to boost bullish sentiment even more.

Motilal Oswal Group Chairman and Co-Founder Raamdeo Agrawal voiced hope, saying, “Markets can perform even better, signalling the beginning of a longer upward trend, if the NDA wins over 400 seats.”

Stock Market
Source YouTube

Recent Market Performance

On May 27, the Nifty 50 reached a record high of 23,110.80. But towards the conclusion of the week, it saw profit booking; on May 31, it closed at 22,530.7, 580 points below its peak. Despite this, the index finished the week 2% down, and investors lost more than ₹8 lakh crore as a result of the dismal market.


On June 3, at 8:20 AM, the GIFT Nifty was likewise up 832 points at 23,520, suggesting positive pre-market mood.


Long-term Projections

White Oak Capital’s Prashant Khemka is still optimistic about the Stock Market’s long-term prospects. He believes that, on the assumption that profits growth maintains at 15% over the next five years, the Nifty may reach 50,000.


The market is ready for a favourable reaction, as exit polls suggest that Prime Minister Narendra Modi will serve a record third term. There is a great deal of excitement throughout the country as they wait for the official election results, and there may be big market moves in the coming days.


GIFT Nifty: What is it?

The Nifty futures traded on the NSE International Exchange (NSE IFSC), situated at the Gujarat International Finance Tec-City (GIFT City), are referred to as GIFT Nifty, formerly known as SGX Nifty. With the goal of bringing offshore financial activity onshore, GIFT City is the first functional smart city and international financial services hub in India.

With GIFT Nifty, investors from across the world may trade Nifty futures during the hours that the Indian Stock Market are closed, giving them more access to the market and improved price discovery.



The News for Today on GIFT Nifty


The strong performance of the GIFT Nifty as of right now reflects the optimistic outlook for the Indian equities Stock Market. The salient points are as follows:

1. Strong Opening: This morning at 8.20 AM, the GIFT Nifty started 832 points higher at 23,520, reflecting a strong upward trend and optimistic market confidence.

2. Effect of Exit Polls: The exit polls, which predicted that Prime Minister Narendra Modi’s NDA would win handily in the next general elections, are primarily responsible for the spike in the GIFT Nifty. The NDA’s anticipated seat count of 350–401 has greatly increased market confidence.

3. Market Reaction: In response to the exit poll findings, the market is rising, and experts anticipate that if the election results turn out as predicted, the market will continue to rise. The present surge in the GIFT Nifty is being driven by this confidence.

4. Upcoming Events: The results of the general election, which are scheduled for June 4, and the RBI’s June 7 interest rate announcement are still the key points of interest. The course of the market in the upcoming days will be determined by these developments.

5. Historical Context: Particularly outside of Indian market hours, the GIFT Nifty has emerged as a crucial metric for market participants to assess the mood and future course of the Indian stock market. The performance of the Nifty 50 today is said to portend how the Indian markets would fare eventually.


The Indian stock market is exhibiting remarkable endurance and confidence as the general election results and the RBI’s interest rate decision get near. The Nifty has reached all-time highs thanks to the positive exit poll findings that predicted the NDA would win handily, paving the way for future development and stability.

Leave a Comment