Sunday, December 21st2.2°C
24562
23934

India stocks, currency buoyed by exit polls showing victory for BJP

NEW DELHI - India's stock market and currency rallied Tuesday on exit polls predicting election victory for a pro-business party and its allies.

Official election results are expected on Friday, but exit polls by at least six major Indian TV stations show the Hindu nationalist Bharatiya Janata Party likely to win enough seats to form a coalition government.

The Sensex stock index rose above 24,000 for the first time, gaining more than 2 per cent before paring its gain. The dollar, meanwhile, fell to 59.60 rupees from 60.05 rupees on Monday.

The BJP and its candidate for prime minister Narendra Modi campaigned on promises of a revival in economic growth amid widespread dissatisfaction with the ruling Congress party after a decade in power.

The exit polls predicted a BJP led coalition would win between 249 and 289 seats in the 543-seat parliament.

The BJP's well-financed campaign also promised better governance. The Congress-led government has been plagued by repeated scandals and the Congress party's 43-year-old leader, Rahul Gandhi, has generally failed to inspire the public.

There was a record turnout in this year's elections, with 66.38 per cent of the 814 million eligible voters casting ballots during the six-week contest held in stages across the country. Turnout in the 2009 elections was 58.13 per cent.

Elections in India are generally considered free and fair.

The Canadian Press


Read more Business News

24376


Recent Trending




Today's Market
S&P TSX14468.26+121.51
S&P CDNX676.54+11.04
DJIA17804.8026.65
Nasdaq4765.38+16.983
S&P 5002070.65+9.42
CDN Dollar0.8618+0.0001
Gold1197.20+2.50
Oil56.50+2.39
Lumber336.20-0.70
Natural Gas3.446-0.196

 
Okanagan Companies
Pacific Safety0.12-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.03
Cantex0.03-0.005
Anavex Life Sciences0.1726+0.0026
Metalex Ventures0.05-0.005
Russel Metals25.58-0.42
Copper Mountain Mining1.55-0.02
Colorado Resources0.120.00
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.05-0.005
Mission Ready Services0.215-0.01

 
23744


23041

FEATURED Property
2067250#1 - 4100 Gallaghers Parkland Dr.
2 bedrooms 3 baths
$691,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


My final thoughts on real estate

This will be the last column I write on real estate. Largely because at the end of the year I will be handing in my license. After 20+ years of working in land development, resort development and rea...


Reflecting on the end of the year

The importance of the end of the year and the Christmas holidays is profound. It is a time to reconnect with family and traditions that have made us who we are. But the year-end has always been a time...


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...

_



24476




Member of BC Press Council


24433