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India's five-week long voting process drew to a close on Monday as the last batch of the country's 814 million voters cast their votes, with the final outcome due Friday.

Four major exit polls on Monday projected an overwhelming victory for the Bharatiya Janata Party (BJP), led by Narendra Modi, which would mark the party's ascent to power for the first time in a decade.

Anticipation of a BJP win has fueled euphoria in Indian stocks as they chalk up fresh record highs in recent months. Modi is widely seen as more business friendly than the ruling Congress party and investors are betting that he will revitalize the country's infrastructure and revive economic growth.

"There are two key watch factors for us. First, it is the ease of coalition formation and the amount of political capital and leverage that Modi can garner from this. Second, will be the political will to sweep aside populism in favor of solid reforms," said Vishnu Varathan, senior economist at Mizuho Bank.

As markets count down to Friday, click to see images from the world's largest exercise in democracy.

By CNBC's Nyshka Chandran. Updated May 15, 2014.

SAJJAD HUSSAIN | AFP | Getty Images