Mumbai:The benchmark BSE Sensex hit the 40,000 mark for the first time ever and NSE Nifty breached the 12,000 level in morning trade, as early trends suggested a huge majority for the ruling NDA.
Amid market euphoria, the rupee appreciated 14 paise to 69.51 against the US dollar trade.
The 30-share index zoomed over 900 points to hit an intra-day high of 40,012.35. Similarly, the broader NSE Nifty spurted 265 points to touch a record 12,003.50.
Top Sensex gainers included Yes Bank, IndusInd Bank, L&T, SBI, ICICI Bank, Kotak Bank, RIL and HDFC twins, surging up to 8 per cent.
While, Vedanta, ITC and TCS slipped up to 0.45 per cent.
According to traders, investor sentiment was boosted by initial trends that suggested a second term for the Narendra Modi-led NDA.
Nearly two hours into counting, television channels on Thursday showed India's ruling NDA leading in more than 300 seats with the BJP at 270-plus while the UPA hovered around the 100 mark.
Meanwhile, foreign institutional investors sold equity worth Rs 965.02 crore on Wednesday, while domestic institutional investors sold shares to the tune of Rs 157.75 crore, provisional data available with stock exchanges showed.
Elsewhere in Asia, bourses in China, Japan and Korea were trading on a negative note in their respective early.