During the session, the 30-share BSE Sensex scaled its fresh life-time high of 24,068.94 points. It settled for the day at 23,871.23, a third straight record closing. This was a gain of 320.23 points, or 1.36 per cent over Monday's close.

Continuing its Friday's fantastic run, the BSE Sensex for the second consecutive session moved higher to touch a new all-time high of 23,572.88.

One is assuming that government formation would pass off smoothly without too much drama. The Budget process would kick off and we are likely to have it in mid-July.

Macquarie estimates a number around that range could spark gains of 5-10 per cent over one month in Indian shares while a number above 240 seats would spark 15-20 per cent gains.

The rupee resumed higher 59.98 per dollar as against the last weekend's level of 60.04 per dollar and firmed up further to 59.51 per dollar on initial selling of dollars by banks and exporters on the back of sustained foreign capital inflows into equity market.

The market was always expecting the BJP-led NDA to form the government, but now the expectation is that BJP with its pre-poll allies will get a majority on its own.

In the day trade, the 30-share BSE barometer scaled its all-time high of 23,048.49 points as ICICI Bank, Tata Motors and Reliance Industries spurted. The broad-based Nifty of the National Stock Exchange too spurted by 198.95 points, or 2.99 per cent to settle at record closing of 6,858.80.

The New Year offers great investment opportunities for retail investors as the country's economy looks to emerge from a prolonged lean phase. This is, therefore, time for investors to make smart decisions to reap the benefits of a reviving economy.

Brokers said the markets remained in a bullish mood for the second straight day after exit polls showed leads for the Bharatiya Janata Party (BJP), the main opposition party, in the just-concluded state assembly elections, for which results would come out on Sunday.

ICICI Bank and HDFC Bank shares together contributed 163 points to the gains on the Sensex, which was also lifted by Larsen & Toubro and Reliance Industries.

Exit polls would start rolling in from Wednesday evening and this would drive markets on Thursday and Friday before the actual results on Sunday. Exit polls could influence market movement this next week in the range of four- to-six per cent in either direction.

When the Wall Street was breached, the Indian bourses had to battle a tsunami. Succumbing to panic, institutional and retail investors frantically pulled out money from the stock market and mutual fund schemes.

Policyholders gain by staying with an insurance policy, and insurance companies benefit by offering better prices and making it possible for the policyholders to stay on.

The only way to master the art of stock investing—low risk and high returns—is to take the time-tested route of long-term investing.

Modi govt to get second term: IndiaToday-AxisMyIndia survey