Indian stocks, rupee surge ahead of election exit polls

India's stock market surged to its second consecutive record high and the rupee rallied on expectations exit polls released later on Monday will show the Bharatiya Janata Party (BJP) winning national elections. The country’s mammoth election wraps up today after the final round of voting, with exit polls from local television stations expected at 6:00 pm. The polls -- surveys of voters as they leave polling stations -- are expected to show the right-wing opposition BJP, seen as more investor-friendly than the ruling centre-left Congress party, winning power. The Bombay Stock Exchange’s benchmark index rose 2.35 per cent to hit 23,453.29 points, surpassing its previous record of 23,048.49 points struck just on Friday. The rupee surged to its highest level against the dollar in nearly 10 months, touching 59.51, a level last seen in July 2013, according to AFP.