All the 30-Sensex companies were trading in the green.
Power Grid, NTPC, Larsen & Toubro, State Bank of India, Axis Bank, IndusInd Bank, ICICI Bank and Mahindra & Mahindra were the biggest gainers.
Most exit polls indicated that the BJP is likely to win the Lok Sabha election as the alliance is set to secure more than 370 seats. Counting of votes will take place on June 4.
Market capitalisation of all listed companies on BSE surged by ₹11.1 lakh crore to ₹423.21 lakh crore.
Sector-wise, Nifty PSU Bank, Oil & Gas, Financial Services, Metal, Realty, and Auto opened 3-5% higher.
Stock market surge is also followed by India's GDP data which showed that the country's economy grew by 8.2 per cent in the fiscal year that ended in March.
In Asian markets, Seoul, Tokyo and Hong Kong were quoting with gains while Shanghai traded lower.
US markets ended mostly higher on Friday.
Foreign Institutional Investors (FIIs) bought equities worth ₹1,613.24 crore on Friday, according to exchange data.
Global oil benchmark Brent crude dipped 0.04 per cent to USD 81.08 a barrel.