The Congress party alleges insider trading by foreigners ahead of the BJP s predicted victory in the exit polls on May 31, resulting in a surge in stock market activity. FPIs made significant purchases linked to the MSCI s quarterly rebalancing, impacting global indices and passive funds.
Indian equities soared to new closing highs, the rupee firmed up and bond yields fell to two-year lows on Monday as investors cheered the likelihood of the Bharatiya Janata Party (BJP) returning to power with a strong majority, based on exit poll numbers.
Indian equities surged to new highs on Monday as investors reacted positively to the likelihood of the Bharatiya Janata Party (BJP) winning with a strong majority based on exit polls. Benchmark indices jumped over 3%, the biggest gain in four years.
Traders and analysts are counting on the liquidation of bearish derivative bets by overseas money managers in the wake of exit polls on Saturday pointing to a strong performance by the Bharatiya Janata Party (BJP) in the general elections thats seen pushing the stock market to new highs on Monday.
FPIs may cut bearish bets, releasing bulls on D-Street today indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.