Indian Prime Minister Narendra Modi (center) attends a campaign rally in Agra, Uttar Pradesh, India, Thursday, April 25, 2024. The language used sows the seeds of division among various political parties in India. Photographer: Prakash Singh/Bloomberg via Getty Images
Bloomberg | Bloomberg | Getty Images
Indian stocks hit an all-time intraday high on Monday, with the Nifty 50 index up around 3% and the S&P BSE Sensex total return index up around 2.6%.
Local exit polls over the weekend suggested Prime Minister Narendra Modi and his Bharatiya Janata Party-led alliance would win a rare third consecutive term.
The Bharatiya Janata Party-led National Democratic Alliance is expected to About 365 seats out of 543 secured A vote was held in India’s lower house of parliament, according to a summary of exit polls by local news channel NDTV.
However, it is expected that the final result on Tuesday may differ from what the exit polls predicted.
Shares of Adani Group Ltd also rose on the exit poll results as the incoming government is expected to focus heavily on infrastructure development in India.
Adani Ports gained over 10% and Adani Enterprises gained 7%. Ambuja Cement, one of India’s leading cement companies, also gained nearly 6%.
About The Author
