India's SENSEX was nearly flat with a slight decline on Friday, but showed a significant increase on a weekly basis.
The BSE index, after reaching a record high of 75,618 during trading as investors rushed to take profits following the recent uptrend, settled at 75,410.4 on Friday.
On the other hand, the outlook for the central bank to maintain high interest rates for a long period increased due to the strong corporate activity in the USA and the hawkish statements from the Federal Reserve.
Furthermore, amidst persistent selling pressure from foreign investors, caution regarding the Indian election results remained.
In individual stocks, HDFC Bank (+1.6%), Bharti Airtel (+1.1%), Larsen & Toubro (+1.1%), NTPC (+0.7%) performed well, while Tech Mahindra (-1.2%), Asian Paints (-1.2%), ITC (-1.2%), TCS (-1.1%), and Mahindra & Mahindra (-1.2%) recorded the biggest losses.
However, with strong domestic data and signs of a reduction in India's fiscal deficit for this fiscal year and next fiscal year due to the high dividend from the RBI, the market is heading for a sharp 1.8% surge this week, marking the second consecutive week of increase.
The Indian general election voting will be conducted in seven stages from April 19 to June 1,with the counting on June 4.
With the announcement of the election schedule, the Model Code of Conduct set by the ECI is immediately applicable.
The Indian government and state governments are prohibited from announcing new subsidy schemes or participating in project ground-breaking ceremonies until the counting day on June 4.
Furthermore, candidates holding ministerial positions are also prohibited from making promises regarding new infrastructural developments.
All eyes are on whether the Modi government will secure a third term.
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乱空
OP
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The cause of anxiety about the Modi administration entering a third term was an economic impact. Price increases (24%), unemployment (24%), and poverty (9%) were cited as the most unevaluable points of the current administration in previous opinion polls.
乱空
OP
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India experienced negative growth in 2020 for the first time in 41 years due to the COVID-19 pandemic, but since 2021, it has achieved high economic growth of over 7% for 3 consecutive years. According to the IMF, it is expected to surpass Japan's nominal GDP next year
乱空 OP : The cause of anxiety about the Modi administration entering a third term was an economic impact. Price increases (24%), unemployment (24%), and poverty (9%) were cited as the most unevaluable points of the current administration in previous opinion polls.
乱空 OP : India experienced negative growth in 2020 for the first time in 41 years due to the COVID-19 pandemic, but since 2021, it has achieved high economic growth of over 7% for 3 consecutive years. According to the IMF, it is expected to surpass Japan's nominal GDP next year