Trade halts as mkts hit upper circuit; re-open undecided
The one-sided win for the UPA government (lead by 262 seats) in the 15th Loksabha election, which shrugged off the exit polls results drastically, brought great cheers for the markets in early trade. The benchmark indices locked at upper circuit, and the BSE & NSE are in discussion on extent of trading halt, as the Nifty has already breached second circuit (i.e. 15%).
In the first 30 seconds of trade today, this was the first time since October 2008 that the Sensex surpassed the 13,000 mark and the Nifty crossed the 4000 level. Huge upsurge of 420 points or 11.4% in the SGX Nifty was suggesting the same trend.
The 50-share NSE Nifty was up 531.65 points or 14.48% at 4,203.30 and the 30-share BSE Sensex surged 1305.97 points or 10.73% to 13,479.39. Less than Rs 1000 crore of trade was seen in the cash and F&O segment.
