AAP win causes India stock slump |
The Bombay Stock Exchange index, Sensex and the National stock index, Nifty, both top barometers of the health of the Indian stock markets opened a full percentage point lower on Monday February 9th with exit polls showing that voting in the Delhi Assembly elections were likely to bring in the Aam Admi Party (AAP) government led by activist Arvind Kejriwal. Votes get counted on February 10. Sensex fell as much as 380 points, while the Nifty dropped over 110 points to below 8,550 at its day low. Markets are now staring at a seventh straight fall.Analysts attribute this to AAP`s anti-corporate views. AAP`s policies like more subsidy on power and water and its opposition to some reforms such as foreign direct investment in retail are likely to affect investors.
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