Defence and railway stocks surge as BJP's victory promises growth. Stocks like HAL and IRCTC show substantial gains in Monday's session.
Hindustan Aeronautics Ltd (HAL) soars to a 52-week high, delivering 100% returns in 2023. Experts anticipate continued growth in the aerospace sector.
Railway stocks, including IRCTC and Rail Vikas Nigam, gained 0.6% to 2%. Investors enjoyed a remarkable 151% return on Rail Vikas Nigam in 2023.
The budget allocates ₹5.94 lakh crore for defence and ₹2.40 lakh crore for railways in 2023-24. Anticipating significant focus on growth.
Nifty 50 and Sensex reached new highs at 20,602.50 and 68,587.82. BSE Midcap and Small cap indices also hit records. Market exuberance post-election.