Benchmark equity indices Sensex and Nifty jumped about 4 percent in early trade on Monday, reaching new all-time highs as exit polls predicted a landslide victory for the BJP-led NDA in the Lok Sabha elections.
In early trade, the 30-share BSE Sensex soared 2,777.58 points or 3.75 percent to a new high of 76,738.89. The NSE Nifty climbed 808 points or 3.58 percent to a new all-time high of 23,338.70.
Exit polls on Saturday predicted that Prime Minister Narendra Modi will re-elected for a third term, with the BJP-led NDA winning a large majority in the Lok Sabha elections. The votes will be counted on June 4.
Adani Power, Power Finance Corp, RECL, Power Grid Corp, Bank Of Baroda, BPCL, GAIL (India), Adani Energy Solut., IOCL, and NTPC were the top gainers.
Among the laggards were Eicher Motors, Zomato, Havells India, HDFC Life Insurance, LTIMindtree, Britannia Industries, and Bosch.
In Asian markets, Tokyo, South Korea, Thailand, Singapore, Indonesia, Hong Kong, and Taiwan were trading higher, while Shanghai, and Malaysia were trading lower.
On Friday, US markets closed mostly higher.
Brent crude lost 0.04 percent to USD 81.08 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 1,613.24 crore on Friday.
On Friday, the Sensex advanced 75.71 points or 0.10 percent to 73,961.31, while the Nifty moved 42.05 or 0.19 percent to 22,530.70.
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