BSE,
Shares focused on Domestic market such as ICICI Bank Ltd and Ambuja Cements Ltd soared, reflecting hopes the BJP and its National Democratic Alliance are best placed to revive an economy growing at its slowest in a decade, while exporters like Infosys Ltd suffered from a stronger rupee.
The wider-than-expected BJP win spurred several investment banks, including UBS and Deutsche Bank, to raise their targets for domestic shares, as they noted indexes are still relatively inexpensive and thus have more room to gain. The next 100 days will be critical for the next government to revive the investment climate.
25,000 and above.... Sensex Scores
Bharatiya Janata Party (BJP) led by Narendra Modi swept to a resounding majority in the world's largest election which led to the BSE Sensex and the broader Nifty surged to record highs while the rupee strengthened to an 11-month peak against the dollar.Shares focused on Domestic market such as ICICI Bank Ltd and Ambuja Cements Ltd soared, reflecting hopes the BJP and its National Democratic Alliance are best placed to revive an economy growing at its slowest in a decade, while exporters like Infosys Ltd suffered from a stronger rupee.
The wider-than-expected BJP win spurred several investment banks, including UBS and Deutsche Bank, to raise their targets for domestic shares, as they noted indexes are still relatively inexpensive and thus have more room to gain. The next 100 days will be critical for the next government to revive the investment climate.
As a result, India has gone from one of the most vulnerable emerging countries to one of the favourites among foreign investors; overseas funds have poured more than $16 billion into Indian stocks and bonds in the past six months.
The BSE Sensex gained as much as much as 6.1 percent to a record high at 25,375,63 before ending the session up 0.9 percent - a gain that makes it the third-best performer in Asia in dollar terms so far this year after Indonesia and Pakistan.
information derived from, http://in.reuters.com/article/2014/05/16/sensex-nifty-bjp-nda-congress-idINKBN0DW04920140516
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