Indian shares hit record highs, exit polls keep cheering markets

Credit: REUTERS/SHAILESH ANDRADE

Indian shares rose to all-time highs on Tuesday, extending a four-day rally after exit polls on Sunday showed Prime Minister Narendra Modi was set to retain power with an even bigger mandate than in 2014.

Corrects to removes extraneous words in paragraph 1

NSE index up 0.44 pct, BSE index 0.53 pct higher

HDFC, Dr Reddy's Labs among top pct gainers

May 21 (Reuters) - Indian shares rose to all-time highs on Tuesday, extending a four-day rally after exit polls on Sunday showed Prime Minister Narendra Modi was set to retain power with an even bigger mandate than in 2014.

The NSE index .NSEI was up 0.44%, after hitting a record 11,883.55, while the benchmark BSE index .BSESN was up 0.53%, after hitting its highest at 39,571.73.

Both the indexes saw their biggest single-day gain since September 2013 on Monday.

Adani Ports and Special Economic Zone Ltd APSE.NS was up 2.7% and was the top percentage gainer on the NSE index while Tata Motors Ltd TAMO.NS slid 2.9% after reporting a 47% slump in March-quarter profit on Monday.

Modi's National Democratic Alliance (NDA) is projected to comfortably get a majority in the lower house of parliament, exit polls showed.

(Reporting By Arnab Paul in Bengaluru; editing by Gopakumar Warrier)

((arnab.paul@thomsonreuters.com; +91 8067493881; Reuters Messaging: arnab.paul.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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