Elections 2026: Sensex rises 356 pts, Nifty up 122 as markets cheer poll-driven optimism

BEnchmark indices Sensex and Nifty ended higher on mon, helped by purchasing in blue-chip stocks and say canvass results moving towards an outcome in run along with market expectations.The 30-share BSE Sensex climbed 355.90 points or 0.46 per cent to settle at 77,269.40. During the day, it jumped 997.25 points or 1.29 per cent to 77,910.75.The 50-share NSE Nifty rallied 121.75 points or 0.51 per cent to end at 24,119.30.From the 30-Sensex firms, Adani Ports, Hindustan Unilever, Reliance Industries, Larsen & Toubro, Eternal and Maruti were among the biggest gainers.Bharti Airtel, Kotak Mahindra Bank, Tata Consultancy Services and ITC were among the laggards from the pack."Investor sentiment remained supported by a favourable election outcome in West Bengal and a better-than-expected Q4 earnings, helping markets look past Middle East-related concerns."However, intermittent profit booking persisted amid uncertainty surrounding the US 'Project Freedom' initiative to reopen the Strait of Hormuz," Vinod Nair, Head of Research, Geojit Investments Limited, said.While the resolution path may take time, optimism around gradual progress continues, he said, adding that crude prices holding below USD 110 are providing near-term comfort.Brent crude, the global oil benchmark, jumped 1.48 per cent to USD 109.8 per barrel.In Asian markets, South Korea's benchmark Kospi and Hong Kong's Hang Seng index ended higher. Markets in Japan were closed due to a holiday.Markets in Europe were trading mostly lower.US markets ended mostly higher on Friday."Early trends from key state election results provided a supportive domestic trigger, while easing geopolitical concerns, like signs of progress in US–Iran discussions, helped cool crude oil prices. This, combined with strength in global markets led by a record run in US tech indices, created a favourable risk environment," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.Stock-specific momentum added to the upside, with leaders like Maruti Suzuki and Hindustan Unilever driving gains on the back of strong operational updates, he said.Foreign Institutional Investors (FIIs) offloaded equities worth ₹8,047.86 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs), however, were buyers as they bought stocks worth ₹3,487.10 crore.Stock exchanges were closed on Friday for Maharashtra Day.On Thursday, the Sensex tumbled 582.86 points or 0.75 per cent to settle at 76,913.50. The Nifty dived 180.10 points or 0.74 per cent to end at 23,997.55.