Dalal Street makes surprising response over Yogi’s appointment as CM
Following the decision of Prime Minister Narendra Modi to make hardliner Yogi Adityanath as Chief Minister of UP, Dalal Street recorded surprising response. The benchmark Sensex was trading 140 points down while the Nifty50 was lower by some 35 points at the time of writing of this report.
The domestic equities benchmarks rallied over 2 per cent to scale new highs last week after a spellbinding show by the ruling BJP in the assembly elections, which many read as signs that the Modi regime is poised for continuation far beyond its current term that ends in 2019.
Last week, the BSE Sensex gained 702 points, or 2.42 per cent, to end at 29,648 on Friday. The Nifty50 surged 225 points, or 2.52 per cent, to close at 9,160.
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