Mumbai: The Indian stock markets are having a great time. Since the Chief Election Commissioner declared the dates for Lok Sabha elections two days back, the markets are on a positive sentiment backed by the strong expectation that Narendra Modi will return as Prime Minister of India.
On Tuesday, the Sensex climbed 481.56 points to close at 37,535, crossing 37,000 for the first time since September 2018. The Nifty also rose by 1.19% to reach 11,301 points signalling that the markets expect a strong election outcome in favour of NDA.
With the overall sentiments looking bright, the Indian Rupee climbed by 20 paise to 68.69 against the US Dollar. Yesterday the Rupee had gained 25 paise against the Dollar.
Foreign Institutional Investors are also predicting a victory for NDA. With the expectation of a strong government at the centre, FIIs have poured in Rs. 8000 crores since March 1.
