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WEDNESDAY, NOVEMBER 25, 2009
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Indian Stocks Soar 17% on Election Win

Congress victory sends shares soaring; trade suspended

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(Newser) – The benchmark Indian stock index soared an unprecedented 17% this morning as investors voiced their resounding approval of the Congress Party's electoral victory. Trading on the Sensex had to be suspended within seconds of opening after a 1,300-point surge; following a two-hour delay, the index jumped again and was shut for the day. Other markets in India were all up by huge margins, reports the Times of India.

The Congress Party won a resounding victory in India's monthlong national elections, defying expectations of a poor showing to secure a second term as the country battles an economic downturn.
The Congress Party won a resounding victory in India's monthlong national elections, defying expectations of a poor showing to secure a second term as the country battles an economic downturn.   (AP Photo/Rajanish Kakade)
Stockbrokers react as they watch share prices at a brokerage in Mumbai, India.
Stockbrokers react as they watch share prices at a brokerage in Mumbai, India.   (AP Photo/Rajanish Kakade)
Indian Prime Minister and Congress party leader Manmohan Singh in New Delhi, a day after his resounding victory in month-long national elections.
Indian Prime Minister and Congress party leader Manmohan Singh in New Delhi, a day after his resounding victory in month-long national elections.   (AP Photo/Mustafa Quraishi)
Congress Party president Sonia Gandhi.
Congress Party president Sonia Gandhi.   (AP Photo/Mustafa Quraishi)
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India • stock exchange • Asian markets • Sonia Gandhi • Bombay Sensex • Manmohan Singh • Congress Party • Indian elections

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