Indian stocks reached record levels; Rupees, bonuses wins as a Modi on track for a big win

Indian stocks reached record levels; Rupees, bonuses wins as a Modi on track for a big win
Mumbai - Indian stock exchanges hit record levels, while in the general elections, during the anticipated counting, rupees and bonds reversed and showed that the ruling National Democratic Alliance led Narendra Modi and won a second mandate.

With the opposition of the United Progressive Alliance, the Hindu Nationalist Party Bharatiya Janata Party (BJP), led by Prime Minister Modi Modi, won 324 seats, in which 111 of the United Progressive Alliance (111), 430 GMT, about two hours later, approximately 600 million Counted. Vote, NDTV television channel said.

The exit poll had predicted a clear victory for Modi in the elections that ended Sunday, but those elections in India have sometimes proved to be misleading.

INDIA TODAY - According to an Exit poll of Axis, the ruling coalition is expected to win between 339 and 365 seats in the 545-member Lower House of Parliament, and the opposition coalition led by the Congress leadership.

In general terms, investors believe that NDA and Modi are more pro-industry than Congress in the lead of the opposition.

The Modi government has had mixed success in its first term, faced criticism for the failure of development and failure to create jobs, as well as an appreciation for implementing tough fiscal and banking reforms and spending on infrastructure done.

Encouraging more fiscal and monetary stimuli, investors expect another term to give time to these reforms. The opposition contested on a policy forum, which promised good income and agricultural jobs.

The broad NSE index rose by 2.55% to 12,036.75 on the 0555 GMT, while the benchmark BSE Index rose 2.59% to 40,123.86.

During the first term of Modi during the close of Wednesday, the NSE index increased by 64.8% and the BSE Index increased 63.6%.

The partially convertible rupee was trading at 69.51 / 52 per dollar against the previous closing of 69.6750.

Rajiv Pawar, Group Leader of Edelweiss Financial Services said, "According to the expectation, there has been a spurt in the market, but there is a need for concerted measures to overcome liquidity and credit stress in order to sharpen this rally.

He said, "Revival, improvement, and improvement should be advanced."

Bonuses for high year
Low inflation, liquidity support of the wider central bank and expectations of an easy monetary policy helped the bond market sense.

Benchmark 10-year-old bond performance decreased 5 basis points to 7.21% after touching 7.19%, its lowest level after April 9, 2018

"There is concern about supply, but they will remain all the time for this year." RBI has so far earned 250 million rupees in the MMO. They need to maintain, "said Baxi Kurios, chief of fixed income in principal asset management.

Investors said that the health of the corporate and financial sector would be extremely important and the new government and central bank should take measures to overcome these problems.

Sachin Shah, fund manager of MK Investment Managers, said, "At a time when there is uncertainty about economic development, political stability and continuity allow the economy to progress and overcome obstacles."

"Then, with this result, hope that policy reforms will go in the right direction."

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