Reported 11 months ago
Indian stocks reached a new all-time high after bouncing back from losses caused by an unexpected election outcome, with the NSE Nifty 50 Index closing 2.1% higher at 23,290. The surge, attributed to Prime Minister Narendra Modi's party forming a government with allies and the central bank's decision to hold the benchmark interest rate while raising economic growth projections, showcases the significant influence of domestic investors in India's equity market. The growth projection change by the RBI and optimism regarding a pro-growth budget post the coalition government formation are viewed as positive signals for equity investors amidst rising concerns about fiscal populism and foreign withdrawals.
Source: YAHOO