BJP win buoys Nifty 50 to record high

The BJP's landslide victory in the recently-concluded Assembly elections buoyed stock markets in the first session after the results were out on Saturday.

On Tuesday, the benchmark Nifty 50 index shrugged off all the Holi-induced inertia and raced above its crucial 9050-mark for the first time ever as most investors took the verdict as a clear signal for PM Narendra Modi to win a second term in the 2019 polls.

Foreign institutional investment flows into debt and equity markets have rebounded supporting the markets as well the Indian Rupee.

Market analysts believe that economic indicators and fund flow data would continue to bolster the market. On the macro front, data released on Friday showed that India’s industrial production rose by 2.7% in January, 2017. However, inflation, based on wholesale prices, rose to a 39-month high of 6.55% in February because of expensive food and fuel items.