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Tuesday, May 19, 2009

Indian stocks surge on election

Indian stocks have surged after the Congress party won a surprisingly decisive victory in national elections.The benchmark Sensex index jumped 17%, or 1,306 points, to 14,272, forcing the Bombay Stock Exchange to shut down for the day.Trading had already been halted earlier, after investors pushed stocks above their daily maximum limit.The Congress victory gives the party a strong mandate to continue reforms that have spurred Indian economic growth.

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