Stock Market Today: Sensex rallies over 1,200 points to go past 80,000-mark, Nifty surges to 24,312

Both the benchmarks had risen by astir 1.5% connected Friday arsenic well.

“A important diagnostic of the Friday rally was the crisp spurts successful galore large-caps, which intelligibly indicates short-covering,” VK Vijayakumar, main concern strategist astatine Geojit Financial Services, told quality bureau Reuters. He added: “This crisp upswing volition proceed today, assisted by the immense triumph of the ruling National Democratic Alliance (NDA) successful Maharashtra, which is highly affirmative for the market.”

Two much analysts were of the presumption that the NDA’s triumph successful Mumbai volition extremity the chronic instability successful 1 of the astir industrialised and economically important states successful the country.

All 13 large sectors logged gains. The broader, much domestically focused small- and mid-caps roseate astir 2% each.

Reliance Industries, the 2nd heaviest-weighed banal successful the Nifty 50, gained 2.5% aft Citi upgraded it to “buy” from “neutral” citing a favourable risk-reward concern aft a play of important underperformance.

Most Adani radical stocks, too, roseate astatine the open. The conglomerate lost astir $28 cardinal successful the erstwhile 2 sessions arsenic investors chopped their vulnerability to the Indian conglomerate successful the aftermath of bribery and fraud allegations from US authorities.

Online nutrient transportation level Zomato climbed 6% aft it was selected to regenerate alloy shaper JSW Steel successful BSE Sensex arsenic portion of periodic reconstitution of indexes from December 23.

With inputs from PTI and Reuters