Indian stocks hit record highs; rupee, bonds gain as Modi on track for big win

MUMBAI - Indian stock markets hit record highs while the rupee and bonds rallied as early vote counting in general elections showed the ruling National Democratic Alliance with Narendra Modi at the helm winning a second term.

Exit polls had predicted a clear win for Modi in the election that ended on Sunday, but such polls in India have sometimes proved misleading. The broader NSE index was up 2.55% at 12,036.75 as of 0515 GMT, while the benchmark BSE index was 2.59% higher at 40,123.86.

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And Adani gets the go ahead!

Too late. The initial euphoria has died down. Markets are flat (0.25% up).

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India Waits to See Which Modi Will Reign, With Polls Pointing to Re-ElectionWith exit polls indicating Indian Prime Minister Narendra Modi will win a second term, investors and executives are waiting to see which version of Mr. Modi would take charge: the business-friendly leader or the divisive nationalist. We all know Elections are Rigged, Electronic Voting Machines are pre-programmed to make PM Modi's BJP party win in critical constituency. There is only one version. Who ever comes to power. India is geared for small incremental changes. Which is not such a bad thing.
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