The benchmark BSE Sensex rose over 250 points in early trade on Tuesday despite opening low as BJP took the lead in Karnataka election results.
Overseas, markets in Asia were trading mixed as investors assessed the outlook for trade relations between the US and China and tensions in the middle-east.
The saffron party was leading in 51 seats while the ruling Congress was in the front in 26 constituencies in Karnataka, as per early trends.
The 30 share index gained 260.94 points (0.73 percent) to trade at 35817.65.
The broader 50 share NSE Nifty too zoomed 70.50 points (0.65 percent) to 10877.10.
Meanwhile, on a net basis, Domestic Institutional Investors (DIIs) bought shares worth Rs 687.23 crore while Foreign Portfolio Investors (FPIs) sold shares to the tune of Rs 717.99 crore, provisional data showed.
Rupee falls by 28 paise
The rupee declined by 28 paise to a fresh 16-months low of 67.79 against US dollars in early trade today amid gains in the US currency overseas.
The dollar strengthened against major global currencies today, having pulled up from its lowest level in more than a week as hopes for easing global trade tensions pushed US bond yields higher, Forex dealers said.
The Indian currency had lost 18 paise to end at 67.51 against US dollar in Yesterday’s trade.
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