On the day of counting, early reports suggest that Prime Minister Narendra Modi is going to be at the office for a second consecutive term. The NDA (National Democratic Alliance) led by his party BJP is almost certain to cross the halfway mark. This is in line with the exit poll results that was published a few days earlier.
BJP alone won more than 300 seats. The NDA has won 349 seats while the main opposition alliance UPA led by Indian National Congress is limited to just 86 seats.
Mr. Narendra Modi and BJP party chief Amit Shah thanked the people of India in their victory speech.
Effect on Stock Market
The BSE Sensex has gained as much as 1,014 points to cross the 12,000 mark for the first time. The NSE Nifty 50 Index surged over 303 points to reach a record high of 12041.
As expected both the NSE Nifty and BSE Sensex indexes to new levels. Nifty is all set to cross the 12000 mark and financial analysts believe that it may go up to 12200. Meanwhile, BSE Sensex cross 39,900 a record high.
We will keep you updated with the latest news from the Indian stock market.