Indian Stock Market Hits Record High Amid Celebrations of Modi’s Likely Return

Date: 24 May 2019 - 22:02

News ID: ۶۶۳۴۳

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.