The rupee jumped by 23 paise to 64.11, while bond yields inched lower on Friday morning after exit polls showed the country's ruling alliance would win elections in the prime minister's home state but caution remained ahead of the actual results.

The benchmark 10-year bond yield was down 1 basis point at 7.12 per cent by 0357 GMT, while the partially convertible rupee was at 64.15 per dollar, compared with its previous close of 64.34.

Prime Minister Narendra Modi's ruling group will sweep an election in his home state of Gujarat, surveys showed on Thursday, shaking off the most serious challenge yet from a combined Opposition.

The dollar lost some mojo against the euro after the European Central Bank left its policy rates and stimulus measures intact. The Bank of England, too, kept key interest rates unchanged. Yesterday, the rupee had bounced 10 paise to end at 64.34 a dollar.

Meanwhile, the benchmark BSE Sensex shot up 358.11 points or 1.07 per cent to 33,605.11 while the NSE Nifty soared 110.20 points or 1.07 per cent to 10,362.30 in the opening trade.