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Nifty hits record, Rupee rallies after Modi's UP show

Nifty hits record, Rupee rallies after Modi's UP show

Wednesday, March 15, 2017, 7:12 AM

The Narendra Modi-led Bharatiya Janata Party’s (BJP) strong showing in Uttar Pradesh (UP) elections propelled the benchmark Nifty to a record high and took the rupee to its highest level in 16 months. The resounding victory in the state elections seen as a referendum on Modi’s popularity and radical decision like demonetization raised hopes of accelerated reforms and economic growth, boosting investor sentiment.
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