Tuesday, May 26, 2015Tuesday, May 26, 2015

Indian shares rise to fresh record high ahead of exit poll results

Published on May 12, 2014 12:28 PM
Electronic voting machines being carried to an election material distribution centre on the eve of the final phase of general election in Kolkata on May 11, 2014. -- FILE PHOTO: REUTERS

MUMBAI (Reuters) - Indian shares surged to their second consecutive record high on Monday as blue-chips including ICICI Bank rallied on hopes that exit pulls due after the close of markets would show opposition Bharatiya Janata Party winning a majority in ongoing elections.

India's five-week long elections are set to conclude on Monday, with exit polls from media organisations to be released starting after 6.30pm India time (9pm Singapore time).

The optimism that the opposition party, seen by markets as being more investor friendly, will win elections comes even as exit polls in previous elections have proved to be unreliable.

Actual results will be out on Friday.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!