India’s stock markets have hit record levels, with the Nifty 50 index climbing 3.6% to reach an unprecedented 23,338 points, and the Sensex index also surging to new highs. The rupee has appreciated, indicating robust investor optimism following exit polls that forecast a commanding win for Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) and its alliance, the National Democratic Alliance (NDA). Analysts expect Modi’s government to continue with large capital expenditure and production-linked incentives, bolstering economic growth. Sectors such as manufacturing, electric vehicles, and state-run companies are poised to benefit from the anticipated policy continuity. The opposition, while skeptical of the exit polls, is awaiting the official results, which will be announced on June 4. Global media outlets have taken note of the Indian electoral process, with the final vote count expected to be closely watched.
Key points
- Indian stock markets and the rupee have hit record highs amid exit polls predicting a third term for Modi.
- Investors are buoyed by the prospect of continued economic growth under Modi’s policies.
- The official election results are to be announced on June 4, with the opposition urging caution over exit poll speculation.
