Indian stocks surge on exit polls suggesting Modi victory

TOKYO -- Indian stocks rose in Monday morning trading, lifted by exit polls suggesting a landslide victory for Prime Minister Narendra Modi's ruling alliance in the world's largest general elections.

India's benchmark index Sensex and Nifty 50 rallied 3.8% and 3.6%, respectively, at one point in the morning session, with both hitting intraday all-time highs. The Sensex is up 6.2% so far this year, while the Nifty 50 has jumped 15.8%.