A day after poll results were declared in four states, equity benchmark indices rallied in early trade on Monday to hit a record high.
At 9.40 am, the 30-share BSE Sensex climbed by over 1,000 points to 68,483 in early trade. The Nifty went up by over 300 points to 20,566.
The Narendra Modi-led Bharatiya Janata Party (BJP) on Sunday emerged victorious in the elections held in three out of the four states.
The BJP retained power in Madhya Pradesh and wrested control of Rajasthan and Chhattisgarh from the Congress. On the other had, the Congress was able to flip the state of Telangana, where it defeated the K Chandrashekar Rao-led Bharat Rashtra Samithi.