The BSE Sensex surged over 300 points, while the broader Nifty advanced over 1 per cent on Monday. The Indian rupee rose over 0.5 per cent to an 11-month high of 58.48 per dollar.
The Sensex and Nifty have rallied sharply betting on a Modi win and now that the BJP has won a majority on its own, there are hopes of quick reforms and a turnaround in India's economy. Unlike his predecessors, Mr Modi will not have to deal with unruly partners as he implements reform. That could usher in profound economic changes, analysts say.
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