Guwahati: India’s benchmark figures Sensex and Nifty rose again on Tuesday continuing the upward trend in the wake of BJP wins in three out of five states in recently concluded Assembly elections.

Markets witnessed a huge surge on Monday morning and markets were at an all-time high on Tuesday, just 24 hours after setting the highest ever spike. On Monday, Sensex surged 1,383.93 points, or 2.05%, to end at 68,865.12, while the Nifty closed 418.90 points, or 2.07%, higher at 20,686.80.

Among Nifty companies, top gainers included BPCL, Axis Bank, Adani Enterprises, Adani Ports, and pharmaceutical giants Dr Reddy. Adani Enterprises and Adani Ports are the top Nifty 50 gainers, up over 9% each.

Recently published data that points towards improving economic conditions may also have factored in the meteoric surge. GDP data released last week showed that the Indian economy had grown at 7.6 per cent in the second quarter, surpassing expectations.

Last week, the BJP rode the Modi wave to stunning victories in Rajasthan, Chhattisgarh, and retained its stronghold in Madhya Pradesh. The party also made strides in Telangana and Mizoram, improving on its performance from the last election. Prior to the election, exit polls had predicted a much tougher contest between the saffron party and its age-old 
rival, the Congress.

“Investors will most likely view these developments positively in anticipation of reduced policy and political risks into 2024”, noted investment house 'Nomura'. In 2024, India will head to the election booths once again as Narendra Modi seeks a third term in the top post.

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