The benchmark S&P BSE Sensex ended 0.3% lower at 39,714.20 in Mumbai, after a volatile session during which it gained as much as 0.7%. The NSE Nifty 50 Index retreated 0.2%.
There is continued optimism that arresting economic slowdown & nursing financial sector back to health will be immediate priorities of Modi’s new govt.
The BJP has an absolute majority, putting PM Modi on course for a second term, and boosting the markets a day after counting for the Lok Sabha seats began.
The S&P BSE Sensex climbed as much as 2.6%, the biggest advance since March 2016, as predictions reinforced Modi’s ability to repeat his 2014 win amid a resurgent opposition.
India’s consumption engine is sputtering as cash crunch caused by NBFC crisis has curbed spending even on staples after hurting demand for cars & homes.
If there is bad blood between the CEC and the Opposition leaders, it will shake the people’s faith in election results. It’s the worst thing that could happen to Indian democracy.
Indian toymakers are now exploring new markets, but they want govt to negotiate a trade deal with US soon, introduce incentives and subsidies to make the industry more competitive.
The deal, believed to be paid for by a third nation, will give the Sudanese Armed Forces access to light attack aircraft, engines, armoured fighting vehicles & unmanned aerial vehicles.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
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