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India’s benchmark Sensex index breached the keenly-watched level of 40,000 mark, marking a new record, but eased later as incumbent prime minister Narendra Modi stunned the opposition with a massive win, which investors said was indicative of continuation of business friendly policies.
The Bombay Stock Exchange rose as much as 40,124.96 or 1,014 points, before closing 0.76 per cent lower at 38,811.39. The National Stock Exchange Nifty index rose as much as 12,041.15, before closing 0.69 per cent lower at 11,657.05. The Nifty index has gained 7.31 per cent so far in the year. Latest news from the UAE and around the world brought to you by Gulf News.
#Sensex #IndiaStockMarket #Modi
India’s benchmark Sensex index breached the keenly-watched level of 40,000 mark, marking a new record, but eased later as incumbent prime minister Narendra Modi stunned the opposition with a massive win, which investors said was indicative of continuation of business friendly policies.
The Bombay Stock Exchange rose as much as 40,124.96 or 1,014 points, before closing 0.76 per cent lower at 38,811.39. The National Stock Exchange Nifty index rose as much as 12,041.15, before closing 0.69 per cent lower at 11,657.05. The Nifty index has gained 7.31 per cent so far in the year. Latest news from the UAE and around the world brought to you by Gulf News.
#Sensex #IndiaStockMarket #Modi
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NewsTranscript
00:00India's benchmark SENSEX surged more than 1,000 points today to hit a high of about
00:0740,124.
00:08It's a record high by itself.
00:12And then years later, as incumbent Prime Minister Narendra Modi stormed back to power, indicating
00:18a continuation of business-friendly policies, India's SENSEX rose as high as 40,124 points
00:24before closing a quarter of a percent lower.
00:28India's NIFTY rose as much as 12,041 points before closing about 0.6 percent lower.
00:35India's rupee, which appreciated early in trade, breached past the $70 mark against
00:40the US dollar as some outflows were seen in trade today.
00:45The US Fed officials are not in a hurry to move rates up or down but the escalating trade
00:49war between the US and China would keep them on hold lower for longer.
00:54Investors expect a rate cut by the end of the year.
00:57But Fed minutes on Wednesday showed that they would be patient in terms of making any
01:03moves as far as interest rates are concerned.