Indian market optimism soars following exit poll projections

[MUMBAI] Investors added to bets that Indian opposition leader Narendra Modi would score a decisive election win, sending markets to fresh highs yesterday at the same time as piling pressure on the next government to deliver swift results on the economy.

More than half a billion people voted in five weeks of staggered balloting - the largest-ever exercise in democracy. The vote wrapped up on Monday and official results will be announced on Friday.

Indian shares posted fresh record highs yesterday and the rupee hit a 10-month peak after the exit polls bolstered expectations that Mr Modi's Bharatiya Janata Party (BJP) and its allies would clinch the 272 parliamentary seats needed for a ruling majority.