MUMBAI (Reuters) - The BSE Sensex and Nifty hit a third consecutive record high while the rupee and bonds gained in early trade on Tuesday after exit polls showed the Bharatiya Janata Party and its allies winning a majority in the country's elections.
Hindu nationalist Narendra Modi is set to become the next prime minister, four major exit polls showed on Monday, with his opposition party and its allies forecast to sweep to a parliamentary majority in the world's biggest ever election.
The Nifty surged to a record high of 7,116.20 in early trade.
The Sensex hit a record high at 23,921.91. As of 9:37 a.m., the benchmark was trading more than 300 points higher.
The partially convertible rupee was trading at 59.62/63 per dollar by 9:10 a.m., compared with its previous close of 60.05/06.
The benchmark 10-year bond yield opened 3 basis points lower at 8.70 percent, its lowest since March 13, before retreating slightly to trade at 8.71 percent.
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(Reporting by Mumbai Markets Team; Editing by Subhranshu Sahu)