Indian markets hit record highs after exit polls forecast a landslide election win for Prime Minister Narendra Modi, whose third term promises investors a resumption of his infrastructure-led economic drive and market-friendly reforms.
A batch of polls released over the weekend by Indian TV stations and agencies showed Modi’s Bharatiya Janata party increasing its presence in India’s lower house of parliament. They also suggested a potential two-thirds majority for the BJP and allied parties that could enable changes to the country’s constitution.
India’s benchmark stock indices reached record highs on Monday, with the Nifty 50 jumping 3.6 per cent and the BSE Sensex hitting 3.8 per cent at the open before paring back some gains.
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