Indian shares surged early on Monday, buoyed by widespread gains following exit polls suggesting a third consecutive term and strong mandate for Prime Minister Narendra Modi.
Investor sentiment was further lifted by positive global cues, underpinned by optimistic inflation data from the U.S. and robust GDP figures for India's fourth quarter of FY24.
The benchmark S&P BSE Sensex climbed 1,890 points, or 2.6 percent, reaching 75,851 in early trade. Meanwhile, the broader NSE Nifty index advanced 584 points, or 2.6 percent, hitting 23,115.
Stocks from the Adani Group saw significant jumps, with Adani Enterprises and Adani Ports soaring by 7 percent and 9.4 percent, respectively.
Public sector undertakings (PSU) also saw notable gains, with NTPC rising 6 percent and Power Grid Corp increasing by 7.6 percent.
Maruti Suzuki India gained 1.5 percent after reducing prices for its AGS variants on select models. Despite reporting a slight dip in May sales, Hero MotoCorp rallied 2.5 percent. REC surged 8.3 percent on reports of fund-raising activities.
MosChip Technologies experienced a 10 percent jump after securing a contract worth over Rs 500 crores from CDAC.
State-run oil marketing companies BPCL, HPCL, and IOC saw increases of 5-8 percent. Oil explorer ONGC climbed 4 percent, Oil India rallied 3.3 percent, and Reliance Industries rose by 2.4 percent.
In the telecom sector, Bharti Airtel and Vodafone Idea both saw gains of 3-4 percent.
