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

India Leads Emerging Stocks Higher

Indian shares rallied to record highs on Friday on hopes of a market-friendly outcome to upcoming elections, leading broader emerging equities to six-week highs ahead of key U.S. jobs data.  Investors are awaiting the U.S. payrolls numbers that could provide clues about the pace at which the U.S. Federal Reserve reduces monthly bond-buying. But there was some relaxation in recent market tensions over Ukraine, where many had feared the outbreak of fully-fledged war with Russia.

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