Poll results for the upcoming elections in India favour the country’s stocks and currency as investors see a change in government bringing them new opportunities.

The SENSEX, the Indian benchmark index, jumped to record levels and the rupee hit a four-month high when results showed the main opposition party winning the state polls. The S&P BSE Sensex gained 1.5 percent while the rupee sold for 60.8475 per dollar, the most since 12th August. At the same time, the seven-day losing run of ten-year bonds came to an end, and ICICI Bank Ltd. (ICICIB) rose 4.6 percent.

The ruling party’s ten-year run of the Congress might be coming to an end with the Bharatiya Janata Party winning victories in areas that hold a sixth of the Indian population of 1.2 billion people. Polls show that Narenda Modi would likely be installed as Prime Minister come May. Modi’s howm state of Gujarat, moreover, has already been enjoying exceptional economic growth of a 10 percent increase with companies from Ford Motors Co. to the Tata Group being lured in, not least by the fivefold increase of the state’s power-generating capacity since Modi became its chief minister in 2001.

The markets seem to be approving of the poll results and to be looking for the new government fo come in with a mandate which will bring more foreign investments and help the rupee appreciate.

The Sensex is expected to climb by as much as 6 percent by the end of the year. So far it has recorded a 9.8 percent advance, the most among the four largest emerging markets, with foreigners investing nearly $18 billion into the country’s $1.1 trillion stock market, spurred on by the higher earning that the growing export industry brought on, as well as the stimulus by the Federal Reserve.