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The BSE Sensex and Nifty touched a third consecutive record high, as stocks of companies focussed on the domestic sector surged after exit polls results were out showing the Bharatiya Janata Party and its allies winning a majority in the elections.

The Nifty hits a record high of 7,172.35. The Sensex hit a record high of 24,068.94, surpassing the  important 24,000 mark for the first time. The BSE Sensex and the broader Nifty were trading up 1.6 percent as of on 13:34 IST .

Bharat Heavy Electricals jumped 11 percent, while Oil and Natural Gas Corp increased 4.1 percent.

The sharp growth in stocks has come even as polling was on for the last phase of the five-week-long elections. It seems that investors were betting that the BJP-led NDA will emerge victorious on May 16when results are announced, analysts say.

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