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Sensex, Nifty Up Over 2 Percent In Early Trade

Indian shares rallied on Monday and the rupee also surged against the dollar to hit a two-week high after most exit polls predicted a majority for the BJP-led NDA in the six-week-long general election ended on Sunday.

The benchmark BSE Sensex was up 809 points or 2.13 percent at 38,740 while the broader Nifty index was up 234 points or 2.05 percent at 11,641.

Tata Motors rallied 2.6 percent ahead of its earnings results due out today.

Adani group companies were rising, with Adani Ports, Adani Gas, Adani Transmission and Adani Enterprises climbing 4-11 percent.

State-run oil marketing companies BPCL, HPCL and IOC were up 3-5 percent despite oil prices hitting multi-week highs on news that there was consensus among OPEC and allied oil producers to continue limiting supplies.

InterGlobe Aviation gained 0.8 percent. One of the co-founders of IndiGo has no plans of taking control of the carrier, its chief executive said on Saturday.

Bank of Baroda jumped 3.4 percent on news the bank is looking to rationalize 800-900 branches.

JK Cement soared 6.2 percent on reporting a 55 percent jump in Q4 profit.

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