Sensex and Nifty witnessed a remarkable surge of nearly 4 per cent in the early trading session on Monday. Both benchmark indices reached record-high levels after exit polls projected an easy win for the BJP-led NDA in the Lok Sabha elections.
The BSE Sensex surged by 2,777.58 points or 3.75 per cent, hitting an all-time high of 76,738 during the early trading session. Meanwhile, NSE Nifty also witnessed a similar rally, climbing 808 points or 3.58 per cent, reaching a fresh record peak of 23,338.
Exit polls on Saturday predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls.
The counting of votes will take place on June 4.
All the 30-Sensex companies were trading in the green. Power Grid, NTPC, Larsen & Toubro, State Bank of India, Axis Bank, IndusInd Bank, ICICI Bank and Mahindra & Mahindra were the biggest gainers.
India's economy grew by 8.2 per cent in the fiscal year that ended in March, cementing the country's position as the fastest-growing major economy in the world.
In Asian markets, Seoul, Tokyo and Hong Kong were quoting with gains while Shanghai traded lower.
US markets ended mostly higher on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,613.24 crore on Friday, according to exchange data.
Global oil benchmark Brent crude dipped 0.04 per cent to USD 81.08 a barrel.
The BSE benchmark climbed 75.71 points or 0.10 per cent to settle at 73,961.31 on Friday. The Nifty advanced 42.05 or 0.19 per cent to end at 22,530.70.
(With inputs from PTI)
