Bombay Stock Exchange. Fil Photo
Indian stocks jumped to a record highs Thursday as early results in the world's biggest election showed Prime Minister Narendra Modi on course for a second term.
The Bombay Stock Exchange's Sensex index jumped more than two percent to pass the 40,000 mark for the first time ever while the Nifty crossed 12,000 points, also a new landmark.
India's rupee also strengthened, hitting 69.51 against the dollar from 69.67 late Wednesday, as traders welcomed trends that showed Modi's Hindu nationalist Bharatiya Janata Party (BJP) was set to win a majority.
After almost three hours of counting, figures from the Election Commission showed the BJP in the lead in 291 seats out of 542 with the rival Congress on just 51.
If confirmed -- no results have been published yet -- this would push the BJP over the 272 seats needed for a majority.
It could also beat its tally of 282 when Modi swept to power in the world's biggest democracy in 2014 with the first majority in 30 years.
The result would give the BJP and its allies, which early trends suggested would win close to 50 seats, a commanding majority of around 330 seats.
Indian stock markets have rallied since exit polls on Sunday pointed to a Modi triumph.
On Thursday, the benchmark Sensex rose more than two percent to peak at 40,124.50, while the Nifty, a smaller index based on 50 Indian companies also increased more than two percent, touching a new record of 12,041.00.
"PM Narendra Modi", a biopic on Prime Minister Narendra Modi, raked in nearly Rs3 crore (Rs30 million) on the first day of its release.
India has raised its import duty on wheat to 40 per cent from 30 per cent, the government said late on Friday, as the world’s No.2 producer of the grain tries to support local farmers
Indian shares hit a record high on Monday after exit polls from the country’s marathon election indicated a new term for Hindu nationalist Prime Minister Narendra Modi. While opposition parties refused to concede and the country faces a nerve-jangling three day wait until the official count begins,
Congress President Rahul Gandhi said on Monday that nearly 25 crore poor people in the country will get financial assistance of Rs 72,000 per annum if the party is voted to power under the ambitious minimum income guarantee scheme which the party has named "Nyay."
"I would like to say sorry because today is your birthday and your great life partner is with me."
"During our treks we usually take trash bags on our treks but accidentally forgot them, next time will do more. Our citizens need to be educated to enjoy this beautiful county but be responsible tourists," he said.
Both Arab defendants – a motorist, 36, and his colleague, 37— kidnapped the Indian employee, 33, from a building housing his boss’ company in Baniyas area at around 9:30pm on May 26, the Criminal Court heard.
The parents of the twins Waseem and Nazma have been arrested for the killing that took place on Sunday. Waseem, who works as daily wager and already has a seven-year-old son, told the police that his financial condition was poor and he could not afford two daughters.