Along expected lines the benchmark Sensex advanced by a massive 1,422 points on Monday to finish at 39,352.67, marginally short of its lifetime high.
Investors rejoiced the exit polls on Sunday which suggests a BJP-led NDA government will come to power.
Among the stocks which made the best of the day's rally was IndusInd Bank. The private lender surged by 8.64 per cent. The State Bank of India jumped by 8.04 per cent, followed by Tata Motors, Tata Motors (DVR) and Yes Bank.
Even the grounded Jet Airways jumped by 5.88 per cent to 131.40 a share.