India stocks, rupee rise as exit polls tip BJP winBy AP News May 13, 2014 3:45PM UTC
NEW DELHI (AP) — India’s stock market and currency have been buoyed by 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 was up 1.7 percent at 23,955.33 on Tuesday. The dollar 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 economic growth amid widespread dissatisfaction with the Congress party’s last 10 years in power.