Indian stocks rise, rupee strengthens on hopes of policy continuity

Indian stocks rise, rupee strengthens on hopes of policy continuity

Indian equity markets are ecstatic that Narendra Modi may get a second term as prime minister. For the first time in its history, India’s benchmark index, the BSE Sensex, today (May 23) crossed the 40,000 mark in less than two hours of market opening. In fact, some analysts believe that with Modi back in power, the currency could even appreciate to 67 per dollar.