The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) also touched a new high of 6,871.35 points, surpassing its previous record of 6,861.60 points.
The Indian markets rallied despite negative global cues. Most emerging markets were under pressure Friday. Key indices of China, Hong Kong, the Philippines and most other emerging markets ended in the red Friday.
Vice president for research and investments at Systematix Shares Arun Gopalan said the rally in the Indian equities markets was mainly due to the expectations of a stable government led by Narendra Modi post election.
“While there were absolutely no global or economic reasons to attribute the move to, the trigger was clearly the expectations of a better than expected outcome for the NDA in the exit polls,” Gopalan said.
The exit polls will be broadcast after 6.30 p.m. Monday, half an hour after the last polling booth closes, according to the Election Commission. Effects of the exit polls would be reflected on Tuesday's trading.
Election results will be announced May 16, Friday, which will be the last trading day of the week. May 16 may turn extremely volatile, if election results do not come in line with pre-poll projections.
Most of the opinion polls conducted before the election have shown BJP prime ministerial nominee and Gujarat Chief Minister Narendra Modi a favourite to lead the next government.
Some important macro-economic data is also scheduled to be announced during the week that would have bearing on the markets. Retail inflation data will come out Monday, while data for wholesale price index (WPI) is scheduled to be announced Thursday.
Updated on: May 11, 2014 19:18 IST
