Indian stock benchmarks saw a significant increase on Monday after Prime Minister Narendra Modi's Bharatiya Janata Party-led alliance won the crucial state elections in Maharashtra, the country's wealthiest state.

This victory is expected to boost investor confidence and strengthen the market's upward trend. The election results are closely watched by market participants as they reflect the ruling party's influence and stability in one of India's most economically important regions.

Analysts believe that this win could result in favorable policies and initiatives that promote economic growth and attract more investments to the state.