Market rallies to record high on Narendra Modi election 2014 win

Fri May 16 2014, 17:52 hrs
Creating history, the BSE Sensex today surpassed the 25,000-mark on trends indicating a clear majority for Narendra Modi-led BJP in Lok Sabha polls before retreating on massive profit-booking to end at 24,121.74, a record close. PTI Photo
Creating history, the BSE Sensex today surpassed the 25,000-mark on trends indicating a clear majority for Narendra Modi-led BJP in Lok Sabha polls before retreating on massive profit-booking to end at 24,121.74, a record close. PTI Photo
The index started losing momentum later and briefly slipped into negative territory to touch low of 23,873.16. Frittering away significant portion of its gain on profit booking, the Sensex nevertheless concluded at a new closing peak of 24,121.74, a gain of 216.14 points or 0.90 per cent. This surpasses its closing of 23,905.60 on Thursday. AP Photo
The index started losing momentum later and briefly slipped into negative territory to touch low of 23,873.16. Frittering away significant portion of its gain on profit booking, the Sensex nevertheless concluded at a new closing peak of 24,121.74, a gain of 216.14 points or 0.90 per cent. This surpasses its closing of 23,905.60 on Thursday. AP Photo
Narendra Modi's landslide win was welcomed with a thundering rally on India's stock markets and jubilant celebrations at offices across the country of his Bharatiya Janata Party (BJP), where supporters danced, exploded fireworks and handed out sweets.  AP Photo
Narendra Modi's landslide win was welcomed with a thundering rally on India's stock markets and jubilant celebrations at offices across the country of his Bharatiya Janata Party (BJP), where supporters danced, exploded fireworks and handed out sweets. AP Photo
The 30-share index, which had a solid run in the past few days, surged 1,470 points to hit a new life-time high of 25,375.63 in early trade fuelled by hopes that BJP government would fast-track reforms and accelerate economic activity. AP Photo
The 30-share index, which had a solid run in the past few days, surged 1,470 points to hit a new life-time high of 25,375.63 in early trade fuelled by hopes that BJP government would fast-track reforms and accelerate economic activity. AP Photo
In the forex market, the rupee climbed to 11-month high of 58.62 against the US dollar amid continued foreign fund inflows into the stock markets. It was last trading at 58.93. AP Photo
In the forex market, the rupee climbed to 11-month high of 58.62 against the US dollar amid continued foreign fund inflows into the stock markets. It was last trading at 58.93. AP Photo
A rank outsider to the 'Delhi club', the Gujarat Chief Minister, steamrolled all opposition within and outside to secure for BJP a majority that no party could get after Rajiv Gandhi's '400 plus' victory in 1984. On the victory path, Modi virtually blanked out all others in the party and became its sole face in a long campaign that started last summer after he was made the campaign chief in Goa. Reuters Photo
A rank outsider to the 'Delhi club', the Gujarat Chief Minister, steamrolled all opposition within and outside to secure for BJP a majority that no party could get after Rajiv Gandhi's '400 plus' victory in 1984. On the victory path, Modi virtually blanked out all others in the party and became its sole face in a long campaign that started last summer after he was made the campaign chief in Goa. Reuters Photo
The 63-year-old BJP leader himself saw a combination of a very strong anti-Congress wave "together with an equally strong wave for BJP and its NDA partners" during the marathon campaign and seized upon these to decimate the UPA. Reuters Photo
The 63-year-old BJP leader himself saw a combination of a very strong anti-Congress wave "together with an equally strong wave for BJP and its NDA partners" during the marathon campaign and seized upon these to decimate the UPA. Reuters Photo
For Narendra Modi, the man who will be India's next prime minister, it has been a remarkable journey to the top during which he has been pilloried by his critics and adored by his supporters who believe he will pull India out of the rut. PTI Photo
For Narendra Modi, the man who will be India's next prime minister, it has been a remarkable journey to the top during which he has been pilloried by his critics and adored by his supporters who believe he will pull India out of the rut. PTI Photo
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