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FxWirePro: India’s Nifty50 reaches record high as Narendra Modi-led BJP sweeps election victory
India’s benchmark stock index Nifty50 touched a new all-time high at 12041 as early vote count suggests a sweeping victory for Prime Minister Narendra Modi led Bharatiya Janata Party (BJP).
After reaching a new all-time high, Nifty50 is retracing some of the gains and currently trading at 11900 area, up 1.4 percent for the day so far. Similarly, the Indian rupee has retraced some of the gains but still up 0.15 percent against the USD, trading at 69.55 per USD.