NEW DELHI: Indian Prime Minister Narendra Modi’s ruling alliance is likely to win a clear majority in parliament after a mammoth general election that ended on Sunday, most exit polls showed, a far better showing than expected in recent weeks.
But he rallied his Hindu nationalist base and turned the campaign into a fight for national security after tensions rose with Pakistan and attacked his main rival for being soft on the country’s arch foe. With the majority of the polls indicating a clear majority for Modi’s alliance, Indian equity markets are expected to rally sharply on Monday, while the Indian rupee is also likely to strengthen again the US dollar, according to market insiders.
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