MUMBAI: Equity indices ended on a record high on Monday as investors cheered exit poll results that showed a likely win for the ruling NDA in the general elections.

The benchmark BSE sensex skyrocketed 1,421.90 points or 3.75 per cent to close at 39,352.67, while the broader NSE Nifty moved 421.10 points or 3.69 per cent to settle at 11,828.25 .

On the BSE index, SBI, IndusInd Bank , Tata Motors, L&T, Yes Bank, HDFC, M&M, Maruti, ONGC, RIL , ICICI Bank , Axis Bank, were among the major gainers with their stocks surging as much as 8.51 per cent.

On the other hand, Bajaj Auto and Infosys slipped by 1.04 per cent.

The broader BSE midcap and smallcap indices ended in line with benchmarks, rallying up to 3.57 per cent.

All sub-indices on the NSE Nifty finished in green with Nifty PSU Bank, Realty, Financial Services and Bank surging the most, up as much as 7.88 per cent.

A majority of exit polls on Sunday forecast another term for Prime Minister Narendra Modi , with some of them projecting that the BJP-led NDA will get more than 300 seats to comfortably cross the majority mark of 272 in the Lok Sabha.

The results of the seven-phase polls will be announced on May 23.

Analysts believe the Modi's BJP retaining power will ensure a continuation in reform measures initiated during the NDA's first term.

"The domestic equity markets witnessed unprecedented and remarkable surge, across all sectors and segments, after the exit polls indicated a higher probability for the current dispensation to come back to power with a clear majority," said Joseph Thomas, head research- Emkay Wealth Management.

The Indian rupee also appreciated by 64 paise to 69.59 against the US dollar during the day.

Brent crude, the global benchmark, was trading at 72.61 per barrel, higher by 1.40 per cent.

(With agency inputs)

