Moneycontrol Pro Panorama

The market is reacting to early trends in state election results. It is important to remember that these are still early trends. Vote counting is ongoing across West Bengal, Tamil Nadu, Assam, Kerala, and Puducherry, and the final results could look very different from the numbers shown so far. With that caveat firmly in place, the early trends are nonetheless remarkable enough to have sent Dalal Street into a morning sprint.

The Sensex surged nearly 1,000 points at its intraday peak, crossing 77,900, while the Nifty climbed above 24,290. The fear gauge, India VIX, eased by over 3 percent to 17.90, signalling that near-term anxiety has, for now, receded. The market's enthusiasm is almost entirely centred on one state, West Bengal.

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