Stock Market Surges on RBI Policy and Modi’s Third Term
The Indian stock market reached record highs, fueled by the Reserve Bank’s monetary policy and the confirmation of Narendra Modi’s third term as Prime Minister. The Sensex surged 1,619.5 points, closing at 76,693, while the NSE Nifty gained 469 points, finishing at 23,290.
Major indices have seen a 10 percent increase over the last three days following the announcement of Modi’s third term. This recovery comes after the Sensex had previously dropped over 4,000 points on vote counting day. Investor confidence has been further boosted by the NDA allies’ strong support for the new Modi government, easing concerns over cabinet formation.
Additionally, the Reserve Bank’s positive outlook on India’s growth rate, projecting a rise to 7.2 percent in the current financial year despite unchanged interest rates, has significantly bolstered market sentiment.
