Exit Polls 2024: Market volatility fizzles out as India VIX plunges 22%

The pre-results and exit polls rally has ended all volatility in the market. India VIX, the volatility index, of the Indian stock market plunged 22.31% to 19.11 in early deals. The crash in market volatility came after exit polls said the PM Narendra Modi-led NDA was set to form government for the third time. The index stood near 24 level on May 31, a day ahead of the exit polls.

Sensex hit the record high of 76,738 and Nifty touched an all time high of 23,338 in early deals. Market cap of BSE listed firm’s rose by Rs 11.59 lakh crore to Rs 423.71 lakh crore compared with a valuation of Rs 412.12 lakh crore recorded in the previous session on May 31. All Sensex stocks were trading in the green. PowerGrid, NTPC, L&T, SBI, Ultratech Cement, M&M led the gains on Sensex, rising up to 8.49 % in early deals.