Here's how brokerages across the country are interpreting the exit polls.
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
In the broader market, BSE Midcap and BSE Smallcap indices mirrored the gains in headline indices and rose 1% and 0.9% respectively.
Shares of RIL ended 2.4% higher as it pips TCS to become most valued firm
'So, what does one believe -- just 6 stocks that are pushing the indices higher or the 600 scrips that are reflecting economic pain?'
In the metal pack, Tata Steel was up 3.7% while Vedanta was up 1.8% .
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
After Maharashtra, analysts expect more states like Karnataka and Haryana to slash stamp duty rates. However, analysts, do caution that it's still a long road to recovery for the realty sector.
Rakesh Jhunjhunwala sounded another note of caution on the nature of the latest bull run.
Stellar rally in ITC shares along with strength in the Asian equities capped the downside.
In absolute terms, the year closed with the market capitalisation of all BSE-listed companies rising by Rs 45.5 lakh crore to Rs 152 lakh crore, or an increase of 42.8 per cent, compared to the closing value on December 30, 2016, says Pavan Burugula.
Market cap of government companies has remained unchanged in the past 8 years.
The markets have been unable to sustain at higher levels as a rise in bond yields globally, especially in the US have dented sentiment. Surging commodity prices, especially crude oil that have now hit $70 a barrel (Brent) coupled with inflation woes and fear of sporadic lockdown across major economic hubs back home as Covid cases rise have chased the bulls away. In the short-term, analysts expect the markets to remain volatile as they react to news flow - both from overseas and developments back home. Investors, they say, need to keep a tab on how the US treasury yields move, which in turn will have a ripple effect on how big money moves across developed (DMs) and emerging markets (EMs), including India.
BSE Midcap and BSE Smallcap indices registered an uptick of 0.06%, and 0.05%, respectively
The S&P BSE Sensex surged 364 points to end at 24,607 and the Nifty50 soared 107 points to close at 7,476.
The outcome is beyond the market's expectation and will be a sentimental boost, say analysts.
The proposal to increase public float, hike income tax surcharge, move to tax share buybacks and lack of stimulus to shore up economic growth has hurt investor sentiment.
A total of 183 stocks rallied 10 per cent, of which 32 stocks saw price appreciation of 20 per cent each.
With global markets pushing ahead, enthused by strengthening US jobs market, and also due to prospects of European rate hike, Indian markets also continued the march ahead.
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
Experts caution that the rally in these stocks may fizzle out soon, as the overall market sentiment still remains weak.
Analysts expect earnings to become increasingly relevant given that the stocks have rallied on positive sentiment and the gush of liquidity. Macro factors, they suggest, have already led to a large re-rating in most counters
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
Metal stocks were trading under pressure while IT, auto, realty stocks gained in today's deals
The rally in index heavyweight ITC has boosted the sentiment across the board.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
Bank shares were the top losers along with index heavyweight RIL
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
The polls are being viewed as a run-up to the general elections scheduled for May 2019 and will test the popularity of the government and its policies amid rising crude oil prices
Bank shares were the top gainers led by ICICI Bank.
A recent report by Citi had pegged the total amount stuck in stalled projects across seven major Indian cities (Bengaluru, Mumbai Metropolitan region, National Capital Region, Ahmedabad, Hyderabad, Kolkata and Pune) at Rs 80,000 crore.
It is best not to get carried away by returns or take a short-term view of the markets, says Bhavana Acharya.
The S&P BSE Midcap and the S&P Smallcap indices rallied over 1% each
On the BSE, 1,493 shares declined and 1,236 shares rose. A total of 177 shares were unchanged
Top companies in China are valued at 7.7 times the trailing 12-month earnings against a P/E ratio of 18.6 times for Nifty 50 companies.
The BSE Sensex surged over 442 points to close at its life-time high of 38,694.11 and the broader NSE Nifty ended at a fresh record of 11,691.95, rising 134.85 points.
ICICI Bank was the top loser along with index heavyweights RIL, ITC and HDFC.
Markets ended higher for the second straight session mainly on the back of upbeat corporate earnings.
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
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