Indian Stock Market Hits Record High Amid Celebrations of Modi’s Likely Return
NEW DELHI (Dispatches) - The Indian stock market has surged with a record high as early trends showed a massive victory for Prime Minister Narendra Modi's National Democratic Alliance (NDA) in early vote counting in the world’s largest democracy.
The Bombay Stock Exchange (BSE) Sensex, in a first, crossed the 40,000-mark after climbing around 1,000 points, while NSE Nifty touched the 12,000-level in early trading.
Investor sentiment has been buoyant since exit polls predicted a stable government and comeback of the Narendra Modi-led government for a second-term. The rupee and sovereign bonds have also strengthened in the early trading. The rupee strengthened to 69.40 against the U.S. dollar which is its highest in the last three months.
The Bombay Stock Exchange (BSE) Sensex, in a first, crossed the 40,000-mark after climbing around 1,000 points, while NSE Nifty touched the 12,000-level in early trading.
Investor sentiment has been buoyant since exit polls predicted a stable government and comeback of the Narendra Modi-led government for a second-term. The rupee and sovereign bonds have also strengthened in the early trading. The rupee strengthened to 69.40 against the U.S. dollar which is its highest in the last three months.