Indian stock markets surge as Exit Polls predict NDA win

The Indian stock markets closed on record high after the exit polls predicted win for the Bharatiya Janata Party (BJP) led National Democratic Alliance (NDA) for the second consecutive term.

BSE Sensex surged 3.75% that is over 1,422 points to close at a record high of 39,353 while the NSE Nifty 50 climbed 3.67% surging 421 points to close at an all-time high of 11,828.

Rupee too strengthen against to dollar 1.23% which was 86 paise to end at 69.36 during the session.

Most of the gains were witnessed in auto, banking, financials and realty sectors.

Specifically to mention banking stocks pushed the Nifty PSU Bank Index by over 7.8 percent in the trade today.

Coming to individual stocks Adani Ports was the top gainer who rose 11 percent, while Indiabulls Housing Finance, IndusInd Bank, State Bank of India, Tata Motors, Yes Bank, Grasim Industries, Larsen & Toubro, Yes Bank and HDFC were among prominent gainers, finishing between 10.6 and 6 per cent higher.

IT stocks Tech Mahindra and Infosys were sluggish on hearing the cheer for another BJP led government.