India Markets Soar to New Record

Indian shares soared to new peaks on Friday after early returns suggested a resounding election victory for the pro-business BJP party, while a weak performance on Wall Street kept other emerging markets subdued.  Analysts say measures taken by the outgoing Congress party and the Reserve Bank of India have stabilised Indian markets in recent months, but gains have accelerated since the BJP named Narendra Modi as its candidate for prime minister in mid-September.

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-Igor P Purlantov