Expected win of Narendra Modi’s BJP push stock market up in India
May 23, 2019 | Investopaper
The election in India has already concluded this week and the vote counting has started from 8 am IST today. As reported by the election commission of India Narendra Modi’s BJP has already taken a significant lead over Indian National Congress.
Investors have shown the optimism towards BJP lead as the stock market rose in the early morning session in India. The Sensex rose by 2.31 percent while Nifty 50 also jumped by 2.01 percent.
Narendra Modi’s BJP was the early favorites to win the election as several reforms have been seen during its previous ruling term. One area that the Modi led government is still expected to strengthen is to deliver reforms in the areas of factors of production i.e. land and labor. It is very essential factors to be considered if the country wants to enjoy a bullish economic growth in the coming days.
According to Election Commission, nearly 67 percent of the total eligible 900 million voters have cast their vote in the election which ran from April 11 to May 19. It is the largest democratic exercise ever in history.
