Sensex soars after Exit Poll

The benchmark sensex soared on Monday after the exit poll resultpredicting a NDA sweep as it registered more than 1000 points.

The S&P BSE Sensex surged as much as 1,133 points ornearly 3 per cent to reclaim 39,000 mark and the NSE Nifty climbed 336 pointsfrom the previous close to hit intraday high of 11,743.

Advances in financials, auto, energy and metal stockssupported the strong up move in the equity markets.  However all the analysts said the currentrally could be short-lived before election results are declared on Thursday.

Top gainers on the 50-scrip index at the time were AdaniPorts, Indiabulls Housing Finance, State Bank of India (SBI), GrasimIndustries, UltraTech Cement and Larsen & Toubro, trading between 5.06 percent and 7.35 per cent higher.

Reliance Industries, HDFC and ICICI Bank contributed themost to the advances on Sensex.

"Any movement in the markets till election results willdepend on the positions investors have taken. If there is a huge shortposition, a rally may be on the cards but it will be short-lived sincevaluations are not cheap at present," AK Prabhakar, IDBI Capital, told media.