India's benchmark stocks surged to fresh highs this week — after busting a previous record earlier this month, as elections go into full swing in the world's largest democracy.
"To a great extent, this move likely point to the tendency for investors to factor in a favourable outcome at the elections and take profit after the final verdict," DBS economist Radhika Rao told CNBC in an email. "The recent rally in Indian risky assets appears as market re-pricing for the incumbent Modi administration remaining in power for another term," Sakpal said."The markets view such an outcome positive for the economy given that a stable government will ensure the continuation of current economic policies in the future."
"Domestically, equity markets have benefited from a return from offshore investors, flows and optimism over the election outcome," Rao added.
Source: News Formal (newsformal.com)
Indian stocks surge to new highs again as eating contest season goes into full swing
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