Skip to content
Search

Latest Stories

Stocks rebound, Indian markets cheer exit polls

EMERGING market stocks and currencies rose on Monday (20), with Indian assets cheering exit polls suggesting a victory for the ruling party in general elections, while the intensifying Sino-US trade war kept the pressure on Chinese equities.

Rebounding from last week’s declines, MSCI’s index of emerging market currencies and shares was up 0.09 per cent at 0821 GMT.


The rupee jumped one per cent to 69.53 per dollar and was on course to post its biggest one-day gain in five months, while stocks in Mumbai surged more than three per cent, set for their best intraday gain since the first quarter of 2016.

Exit polls showed incumbent Narendra Modi is likely to return to power with an even bigger majority in parliament after a mammoth general election that ended on Sunday (19).

“This ensures policy continuity and required stability. Hence it will attract long-term investors,” said Rushabh Maru, currency and commodity analyst with Anand Rathi Shares and Stock Brokers.

Samrat Dasgupta, a fund manager at Esquire Capital Investment Advisors warned that while a rally could be expected for the next few days, further upside – even if the outcome matches the polls – will be limited as people will wait to see what policies will be made by the new government as the economy passes through a rough patch.

China stocks fell after news that Google has suspended some business with Huawei following Washington’s blacklisting of the Chinese telecoms giant last week.

The yuan, however, rose against a soft dollar helped by a firmer-than-expected midpoint and the central bank’s pledge to keep the currency stable.

In Turkey, the lira erased early losses to trade 0.2 per cent higher as the dollar weakened, while stocks were flat.

As the country takes measures to help the struggling currency, fresh negativity hit the lira after president Tayyip Erdogan pressed ahead with the purchase of defence systems from Russia, further pressuring Turkey’s fragile relations with the US.

The Russian rouble rose, in line with higher oil prices, while South Africa’s rand climbed half a per cent.

Emerging European currencies were little changed against a slightly positive Euro.

(Reuters)

More For You

Police Recover £1M Stolen Jewellery in Hounslow, Owners Sought

The jewellery was largely taken from London’s South Asian community in Hounslow between 2023 and 2024. (Photo: Met Police)

Stolen jewellery worth £1m recovered in Hounslow, police seek owners

POLICE are seeking to reunite stolen jewellery worth over £1 million with its rightful owners after recovering the items during a proactive operation across London and the home counties.

The recovered collection includes identifiable pieces such as a World War One officer’s Rolex watch, a gold locket containing old pictures, an engraved gold ring, and an engraved gold pocket watch from Harlow Bros Ltd.

Keep ReadingShow less
british-muslims

The initiative aims to track incidents, raise awareness of hate crime, and provide better victim support.

iStock)

Government announces fund to combat anti-Muslim hate

THE UK government has announced a new fund to monitor anti-Muslim hate and support victims, with applications opening on 7 April.

The initiative aims to track incidents, raise awareness of hate crime, and provide better victim support.

Keep ReadingShow less
Probe launched over racist broadcast at Kent asylum centre

FILE PHOTO: Entrance of Manston short-term holding centre for migrants, near Ramsgate in southeast England. (Photo by BEN STANSALL/AFP via Getty Images)

Probe launched over racist broadcast at Kent asylum centre

AUTHORITIES have launched an investigation following reports that a racist message was broadcast over portable radios at an asylum processing centre in Kent.

The incident occurred at the Manston site, where small boat arrivals are processed by the Home Office and its contractor, Mitie, reported The Guardian.

Keep ReadingShow less
Protest against dog crackdown ahead of Modi's Sri Lanka visit

Sri Lankan animal rights activists take part in a demonstration in Colombo on April 3, 2025, to protest the round-up of stray dogs a day ahead of a visit by Narendra Modi. (Photo by ISHARA S. KODIKARA/AFP via Getty Images)

Protest against dog crackdown ahead of Modi's Sri Lanka visit

SRI LANKAN animal rights activists marched on Thursday (3) to protest the round-up of stray dogs a day ahead of a visit by Indian prime minister Narendra Modi.

Authorities in Colombo and the Buddhist pilgrim city of Anuradhapura have reportedly deployed dog catchers to impound hounds ahead of Modi's visit, which begins on Friday (4).

Keep ReadingShow less
modi-trump-getty

Donald Trump and Narendra Modi hold a joint press conference in the East Room at the White House on February 13, 2025 in Washington, DC. (Photo: Getty Images)

Getty Images

Explained: Impact of US tariffs on Indian exports

The United States has announced a 27 per cent reciprocal tariff on Indian goods entering the American market.

Industry experts have said these duties will pose challenges for Indian exports, though India's position remains more favourable than some of its competitors.

Keep ReadingShow less