July 3, 2020, 17:11


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

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

The Indian stock market surged with a record high on Thursday 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.

New Delhi (Sputnik): 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.

READ MORE: Exit Polls Keep Netizens Busy Debating Indian PM’s Likely Re-Election

Investor sentiment has been buoyant since exit polls predicted a stable government and comeback of the Narendra Modi-led government for a second-term. Th rupee and sovereign bonds have also strengthened in the early trading. The rupee strengthened to 69.40 against the US dollar which is its highest in the last three months.

​The market expects that in second term the government will take firm steps to privatise loss-making state funded units and tighten fiscal policy to give a push to economic growth.

READ MORE: Counting of Votes Begins to Decide Fate of India’s PM Modi

Earlier this week, the United Nations (UN) lowered its forecast for India’s annual growth in 2019-20 to 7.1% from its earlier estimate of 7.5% but emphasised that “Strong domestic consumption and investment will continue to support growth, which is projected at 7% in 2019 and 7.1% in 2020”.

 

 

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

Weather

Moscow

Today07/03/2020
27℃

Sat
07/04/2020
moderate rain

  • moderate rain
  • HI/LO: 25/19
  • Clouds: 100%
  • Wind: 2.6 m/s
  • Wind Direction: WSW
  • Pressure: 1012hPa
  • Humidity: 69%

Sun
07/05/2020
light rain

  • light rain
  • HI/LO: 28/20
  • Clouds: 100%
  • Wind: 2.28 m/s
  • Wind Direction: WNW
  • Pressure: 1011hPa
  • Humidity: 40%

Mon
07/06/2020
sky is clear

  • sky is clear
  • HI/LO: 28/19
  • Clouds: 0%
  • Wind: 3.77 m/s
  • Wind Direction: SW
  • Pressure: 1010hPa
  • Humidity: 42%

Tue
07/07/2020
moderate rain

  • moderate rain
  • HI/LO: 29/21
  • Clouds: 0%
  • Wind: 4.81 m/s
  • Wind Direction: S
  • Pressure: 1008hPa
  • Humidity: 50%

Wed
07/08/2020
moderate rain

  • moderate rain
  • HI/LO: 21/18
  • Clouds: 100%
  • Wind: 5.63 m/s
  • Wind Direction: NNW
  • Pressure: 1009hPa
  • Humidity: 67%

Thu
07/09/2020
light rain

  • light rain
  • HI/LO: 20/16
  • Clouds: 95%
  • Wind: 5.32 m/s
  • Wind Direction: N
  • Pressure: 1009hPa
  • Humidity: 59%

NEWS

    Сторонняя реклама



    Статьи
    Статьи В
    Создание Сайта Кемерово, Создание Дизайна, продвижение Кемерово, Умный дом Кемерово, Спутниковые телефоны Кемерово - Партнёры
    Яндекс.Метрика