Benchmark indices surged in trade, as final results of the Elections 2019, showed the NDA tally at a whopping 248 seats.
The BJP on its own is well ahead of the half-way mark, suggesting that the reforms process would continue unabated.
The Sensex gained a huge 300 points in early trade, once again conquering the 39,000 points mark with some ease. Oil refinery stocks were leading the set of gainers with IOC and BPCL among the early gainers. Other notable winners was Yes bank, which jumped nearly 2 per cent in trade.
Losers from the Nifty included the likes of ONGC, Bajaj Auto, Zee and Titan. All major sectors were trading in the green led by Banking, IT, real estate and Pharma.
Shares of Gruh Finance fell as much as 7.5 percent, the most in over four months, to Rs 305. after a block deal.
Meanwhile, Asian markets were trading mixed following a weakish set of closings across the US markets. Hong Kong's Hang Sang was the only market that was trading with gains.