In line with an extremely strong momentum in the stock market, as many as 189 stocks hit their 52-week highs on Monday on the BSE.

Axis Bank, Coal India, HDFC Bank, ICICI Bank, JSW Steel, L&T, Maruti Suzuki, RIL and Tata Motors were among the stocks that hit their one-year highs.

Stock markets continued their record-breaking show as BSE benchmark index, Sensex, ended at a new closing high of 23,551, and NSE Nifty at 7,014.25, in anticipation that exit polls today will show formation of a stable government at the Centre.

Intra-day, the Sensex rallied to an all-time high of 23,572.88, surpassing previous high of 23,048.49. The Nifty touched 7,020.75, breaking the earlier high of 6,871.35.

"Extending last session's jubilation, the benchmarks were seen opening with a gain of over a percentage point in early deals on Monday and continued the same till the end.

Sentiments remained upbeat from the beginning on the prospect of stable government after May 16," said Jayant Manglik, President-retail distribution, Religare Securities Limited.

Among the 30-Sensex constituents, 25 ended the day in green with Coal India surging 7.04 per cent, becoming the top gainer among the frontline stocks.

The other prominent gainers on the Sensex were HDFC Bank, Tata Motors, Hero MotoCorp Ltd and Maruti.

From the BSE's 13 sectoral indices, 12 ended the day with gains led by bankex index.

"Markets extended its rally in anticipation of NDA led alliance forming government. Going forward expect market to remain volatile with exit polls announcement and final result to be announced by Friday," said Rikesh Parikh, VP, Motilal Oswal Securities Ltd.