Stock markets gain 3 per cent as political stability returns

In a week full of political surprises, the Indian Indices saw high volatility but ended up gaining more than 3 per cent, buoyed by Prime Minister Narendra Modi's return for the record third term and RBI's monetary policy announcements.

The BSE Sensex hit a fresh all-time high of 76,795.31 while the Nifty reached a record high of 23,338.70.

On Friday, the Sensex surged 2,732 points or 3.69 per cent to close at 76,693.36. On the other hand, Nifty went up 759 points or 3.37 per cent to end at 23,290.

The investors' losses prior to the new government's formation moves were almost recovered in just three trading sessions, at more than Rs 28 lakh crore.

The BSE Small-cap index surged 3 per cent and Mid-cap Index also went up 3 per cent during the week. The large-cap Index saw 3 per cent rise.

The foreign institutional investors (FIIs) sold equities worth Rs 13,718.42 crore.

On the other hand, domestic institutional investors (DIIs) bought equities worth Rs 5,578.71 crore.