Indian shares hit record highs, post biggest gains since Sept

MUMBAI Fri May 9, 2014 6:19am EDT

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MUMBAI May 9 (Reuters) - Indian shares hit a record high on Friday, posting their biggest daily gains since September on hopes the opposition Bharatiya Janata Party would win a majority in elections set to conclude next week, sending blue-chips such as ICICI Bank sharply higher.

The benchmark BSE index rose as much as 3.15 percent to a record high at 23,048.49, surpassing its previous high of 22,939.31 hit on April 25. It ended up a provisional 2.9 percent.

The broader NSE index rose as much as 3.18 percent to as high as 6,871.35, surpassing its previous all-time high at 6,869.85 on April 25. It rose 2.99 percent.

Both indexes posted their biggest single-day gains since Sept. 19, 2013.

Banking stocks gained the most with the NSE banking sub-index gaining 5.5 percent to hit a record high at 13,814.25. ICICI Bank surged 7.2 percent. (Reporting by Indulal PM; Editing by Anand Basu)

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