Indian shares hit record highs on state election results

Last Updated: Mon, Dec 09, 2013 10:11 hrs

MUMBAI, Dec 9 (Reuters) - Indian shares rose to a record high on Monday as stocks of blue chips surged after main opposition party BJP, widely seen by investors as being more business friendly, swept three out of four key state elections held since last month.

ICICI Bank Ltd provisionally rose 4.5 percent, while Larsen and Toubro Ltd gained 3.9 percent.

The benchmark BSE index gained as much as 2.3 percent to a record high of 21,483.74 points, surpassing its previous peak hit on Nov. 3. It provisionally rose 1.4 percent.

The NSE index rose as much as 2.5 percent to an all-time high of 6,415.25, surpassing its previous peak hit in January 2008. It provisionally closed up 1.7 percent. (Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)

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