Stocks, Rupee Reverse Gains as Modi Victory Rally Evaporates
- Join us on WhatsApp for special coverage of India’s election. Sign up here. Indian equities declined and the rupee weakened as investors sold the rally triggered by Prime Minister Narendra Modi’s second landslide victory, an outcome that was partly priced in after exit polls this week. The Sensex fell 0.8% at the close in Mumbai, erasing a gain of as much as 2.6% that lifted the gauge above 40,000 for the first time. The NSE Nifty 50 Index lost 0.7% after briefly rising above the 12,000 mark. The rupee gave up gains of as much as 0.4%, ...
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