Indian shares hit a record high on Friday, posting their biggest daily gains since September on hopes the opposition Bharatiya Janata Party would win a majority in elections set to conclude next week, sending blue-chips such as ICICI Bank sharply higher.
The benchmark BSE index rose as much as 3.15 percent to a record high at 23,048.49, surpassing its previous high of 22,939.31 hit on April 25. BSE Sensex closed 650.19 higher at 22,994.23
The broader NSE index rose as much as 3.18 percent to as high as 6,871.35, surpassing its previous all-time high at 6,869.85 on April 25. It rose 2.99 percent.
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Both indexes posted their biggest single-day gains since Sept. 19, 2013.
Banking stocks gained the most with the NSE banking sub-index gaining 5.5 per cent to hit a record high at 13,814.25. ICICI Bank surged 7.2 per cent.