Mumbai: The markets continued their upward journey, hitting record highs on Thursday. Analysts said that Bharatiya Janata Party (BJP) and Janata Dal (United) or JDU alliance in Bihar indicates political stability and will cement the ruling party’s dream of forming the government once again in 2019. “The political drama panning out in Bihar is a sentiment boosters as the market favours political stability,” said Jimeet Modi, ‎founder and chief executive officer, ‎Samco Securities Ltd. The rupee opened at 64.21 a dollar and touched a high of 64.13, a level last seen on 17 May 2017. In 2017, the rupee has gained 5.6%, while foreign investors bought $8.74 billion and $16.82 billion in local equity and debt markets, respectively.

Source: Mint July 27, 2017 06:00 UTC