indian main share index hits record
Saturday 31 May 2025
Last Updated : GMT 06:49:16
Arab Today, arab today

Indian main share index hits record

Arab Today, arab today

Arab Today, arab today Indian main share index hits record

India’s NSE index rose as much as 2.1 per
MUMBAI - Arab today

 India’s NSE index rose as much as 2.1 per cent to a record high on Tuesday as investors saw Prime Minister Narendra Modi’s landslide victory in the northern state of Uttar Pradesh as endorsing his economic reform agenda.

Modi’s win, announced on Saturday, strengthened his claim to a second term in national elections in 2019, and investors are betting it will embolden the ruling Bharatiya Janata Party (BJP) to embark on more reforms including launching a national sales tax.

The broader NSE index rose as much as 2.1 per cent to a record high of 9,122.75 points in the first trading session since the election results were announced, surpassing its previous peak of 9,119.20 on March 4, 2015.

But the index then pared some gains and was up 1.5 per cent at 0410 GMT, while the benchmark BSE index was up 1.6 per cent.

Indian markets were closed on Monday for a holiday.

The benchmark 10-year bond yield fell 3 basis points to 6.87 per cent from its previous close, while the Indian rupee strengthened to 66.2400/66.2425 from its 66.60/66.61 close on Friday.

The gains in the rupee prompted the Reserve Bank of India to intervene once it strengthened to around 66.16 per dollar, traders said.

Modi’s victory “is a huge confidence boost for reform and is another step on the way to a story that could place him as one of the most successful reformers in history,” said Simon Quijano-Evans, investment strategist at Legal & General Investment Management in London.

The prime minister’s win should bode well for foreign portfolio investment in India.

Foreign investors have already started returning to the country, having bought a net $1.5 billion in equities and $887.3 million in debt in February, following four consecutive months of net sales. They have remained net buyers in March.

But expensive valuations and caution due to an anticipated/srate hike by the US Federal Reserve this week could temper gains.

Indian shares are trading at a price-to-earnings ratio of 19.85 over the next 12 months, compared with their five-year historic average of 17.8, according to Thomson Reuters data

source : gulfnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

indian main share index hits record indian main share index hits record

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

indian main share index hits record indian main share index hits record

 



GMT 04:48 2018 Friday ,19 January

China says air quality 'improved' in 2017

GMT 14:00 2017 Wednesday ,01 February

Hot Wizards stretch NBA home win streak to 15 games

GMT 14:33 2017 Saturday ,10 June

Spotify nemesis Swift ends streaming boycott

GMT 14:06 2011 Thursday ,26 May

Top Rwandan genocide suspect arrested

GMT 06:26 2017 Saturday ,08 April

Xi says ready to boost China-US ties

GMT 11:47 2017 Tuesday ,07 February

IMF board says Greece needs further debt relief

GMT 03:57 2017 Tuesday ,08 August

8 Taliban Militants Killed in Afghanistan

GMT 02:53 2017 Sunday ,10 December

Minister for Foreign Affairs visits UK on Tuesday

GMT 05:03 2017 Saturday ,16 September

Trump angers Britain in midst of London attack

GMT 11:14 2017 Sunday ,10 September

Parliamentary Thai delegation to visit Bahrain

GMT 20:43 2017 Thursday ,21 September

Premier’s FOWPAL honour hailed
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday