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Stock market surges record high over Modi hope

Posted on May 12 2014 | IBNS

Mumbai, May 12 : Amid widespread speculations from various polls that the BJP is set to win the elections and industry friendly Narendra Modi will be the next Prime Minister, the stock markets touched record high on Monday.

Rupee also rallied to its ten month high over hopes of a Modi government in New Delhi.

According to reports, the BSE Sensex crossed over 500 points, while the benchmark Nifty, which had surged 17 percent since Modi was named the PM candidate, reached above the 7,000 levels for the first time.

The market reacted to hopes of an exit polls showing a BJP government in power.

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