Sensex jumps over 1,000 points in early trade, Nifty over 24,000

Benchmark stock market indices saw a stellar start on Monday as stock markets saw a bull run led by banking sector and financial stocks.
The S&P BSE Sensex was up 1192.49 points to 80,309.60, while the NSE Nifty50 was up 411.85 points to 24,319.10 as of 9:35 AM.
Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said that the ability of the market to surprise was evident in the 557 point spurt in the Nifty on Friday.
“The sharp upswing will continue today assisted by the super NDA performance in Maharashtra. The political message from this election is huge and highly positive from the market perspective. A significant feature of the Friday rally was the sharp spurts in many largecaps with some stocks shooting up by more than 4%. This clearly indicates short covering, which will keep the market resilient today,” he added.

Banking and IT are on a strong wicket assisted by fair valuations and reasonable growth prospects. Watch out for capital goods, telecom and pharma stocks.