BSE Sensex rose to a record high on Monday after the main Opposition party BJP secured an absolute majority in three out of four states according to Assembly election results out on Sunday.
The Bharatiya Janata Party (BJP) is perceived by many investors as being more business-friendly, and its good showing on state elections are raising optimism about its chances ahead of general elections due by May next year.
The benchmark BSE index gained as much as 2.3 per cent to a record high of 21,483.74 points, surpassing its previous all-time peak hit on November 3.
The NSE Nifty index rose as much as 2.5 per cent to 6,415.25 points, marking its highest level since January 8, 2008.
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