Markets continue strong rally on BJP's UP win; ICICI Bank up 5%

All stocks on the indices were trading in green - ICICI Bank, M&M, HDFC and ITC were the top gainers

Benchmark indices kept their strong rally going in the morning trade as investors cheered BJP’s stunning victory in Uttar Pradesh assembly elections, which gives it room for adding more representatives in the Rajya Sabha. BJP won state elections in four out of five states that went to polls indicating that the popularity of Prime Minister Narendra Modi was still intact.

Both indices rallied by about 2% with Sensex surging as much as 615 points during the early trade while the broader Nifty50 hitting the record high of 9,123 at open.
 
At 12:03 pm, the S&P BSE Sensex was