MARKET SUMMARY OF 20 MAY 2019

Benchmark indices ended Monday's session at record closing high, surging almost 4 per cent, a day after exit polls predicted the return of the Narendra Modi-led National Democratic Alliance to power. In the process, the S&P BSE Sensex reclaimed the 39,000-mark, while the Nifty Bank posted its biggest one-day gain.The S&P BSE Sensex ended the day 3.75 per cent, or 1,422 points, higher at 39,352 levels, with State Bank of India, YES Bank, IndusInd Bank, Larsen & Toubro, and YES Bank leading the list of gainers. Infosys and Bajaj Auto, however, settled in the red. The market breadth remained in favour of buyers as 2,018 stocks advanced and 611 declined, The broader Nifty50 gained 421 points, or 3.7 per cent, to settle at 11,828.Dhiraj Relli, MD & CEO, HDFC Securities said the markets seem to have almost fully discounted the outcome of final election results. The S&P BSE Sensex vaulted more than 1,400 points to end at a record closing high on May 20 after most of the exit polls showed that the BJP-led NDA will get between 267-365 seats in the Lok Sabha and pave way for the second term for Prime Minister Narendra Modi.Sensex reclaimed its crucial resistance level of 39,000 while Nifty50 added more than 400 points to rally above 11,800. Both Sensex and Nifty saw their biggest gains in the last 10 years.