Exit Poll 2019: Sensex jumps over 950 points, Nifty crosses 11,700 as projections show Modi's return to power

A day after elections to 542 seats concluded and exit polls projected that the BJP-led NDA was comfortable returning to power, equity markets opened on a high note with Sensex gaining over 900 points over the last closing. 

The Nifty also gained over 200 points in opening trade and crossed 11,700 as the market opened. 

Equity markets will track election trends this week as the exit polls showed that the ruling NDA is likely to come back to power.

The results of the seven-phase polls will come out Thursday and experts opined that markets have partly discounted exit poll outcome in the last few days.

Most exit polls Sunday forecast another term for Prime Minister Narendra Modi, with some of them projecting that BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha.

Regulator Sebi and stock exchanges have beefed up their surveillance mechanism to check any manipulative activities in the market this week in view of the high-octane election related events lined up.

"Most exit polls have predicted NDA to win the Lok Sabha elections with a good margin. This was partly discounted in the markets over the last few days. The street would like it even more if the BJP on its own gets a majority in the Lok Sabha.

"However, going by the way the exit polls in the last two elections were off the mark from the actual numbers, the markets would get excited but not super excited," said Deepak Jasani, Head, Retail Research.

Investors should also brace for bouts of volatility in view of the high-octane election-related events, the analysts said.

Experts are of the opinion that bourses may be indecisive till the final election outcome is known.

(With PTI inputs)