Stocks and the rupee rallied as it appeared Narendra Modi was headed to another five-year term as India’s prime minister
Indian markets cheered Monday as exit polls suggested Prime Minister Narendra Modi is set for another five years at the helm of Asia’s third- largest economy.
The benchmark Sensex index rallied more than 3.5% on Monday on pace for its best day since September 2013, while the rupee gained 1.1% on the U.S. dollar.
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