The rupee, on the other hand, rallied to its strongest level against the dollar since July 2013 on widespread hopes that exit polls would show the opposition Bharatiya Janata Party winning a majority in the country's elections.

The optimism comes even as exit polls in previous elections have proved to be unreliable.

Foreign institutional investors (FIIs) bought shares worth a net Rs 1,268.78 crore as per provisional data from the stock exchanges.
Investors are hoping that a stable government which will complete its full term of five years in office comes to power after the elections.
The Sensex resumed higher at 23,031.11 and rose to an all-time peak of 23,410.36 before quoting at 23,281.48 at 1000hrs, showing sharp gain of 287.25 points or 1.25 percent from its last weekend's level.
The NSE 50-share Nifty also rose by 77.90 points or 1.11 percent to 6,934.70 at 1000hrs after hitting life-time high of 6,975.70.
Major gainers were Reliance Ind (3.63 percent), SBI (2.73 percent), Axis Bank (2.36 percent), HDFC Bank (2.12 percent), Larsen (1.87 percent), Hero Motocorp (1.71 percent), Gail India (1.70 percent), HDFC (1.62 percent) and BHEL (1.60 percent).
However, most Asian stocks fell in their early trade after Chinese President Xi Jinping said the nation needs to adapt to a "new normal" in the pace of economic growth.
Key benchmark indices in Taiwan, Singapore, South Korea and Japan were down 0.03 percent to 0.5 percent while indices in Hong Kong, China and Indonesia were up 0.34 percent to 1.55 percent.    

US stocks rose with the Dow Jones Industrial Average ended at a record high on last Friday, boosted by IBM, while a rebound in high-growth momentum names helped the broader market.

The rupee had closed three paise higher at 60.04 against the dollar on Friday on persistent selling of US currency by banks and exporters in view of sustained foreign capital inflows into equity markets.

India's five-week long elections are set to conclude on Monday, with exit polls from media organisations to be released starting after 6:30 pm Actual results will be out on Friday.

The partially convertible rupee touched as much 59.51 per dollar on Monday, the strongest level since July 29, 2013, compared to its 60.02/03 close on Friday.


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