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The effect of victory in Maharashtra has also been seen on the stock market. The stock market opened for the first time on Monday 25 November after the election results came out. The effect of BJP's victory in Maharashtra is visible on the stock market.
The results of Maharashtra Assembly elections have already come out. The results of Maharashtra Assembly elections have come on Saturday 23 November in which BJP has again formed the government. The effect of victory in Maharashtra has also been seen on the stock market. The stock market opened for the first time on Monday 25 November after the election results came out. The effect of BJP's victory in Maharashtra is visible on the stock market.
On the first trading day after the election results, the 30-share index of Bombay Stock Exchange has crossed 80,000. The rupee strengthened by six paise to 84.35 per dollar in early trade on Monday amid a strong trend in domestic stock markets. Forex traders said factors like the high level of the dollar index and the nearly five per cent rise in crude oil prices last week due to the escalation of the Russia-Ukraine conflict are major headwinds for the US dollar/Indian currency pair.
In the interbank foreign exchange market, the rupee opened at 84.38 per dollar and then rose to 84.35 per dollar, showing an increase of six paise over the previous closing price. The rupee had closed at 84.41 against the US dollar on Friday. Meanwhile, the dollar index, which gauges the US dollar's position against six major currencies, was down 0.58 per cent at 106.93. International standard Brent crude fell 0.21 percent to $ 75.01 per barrel. According to stock market data, foreign institutional investors (FIIs) were sellers on Friday and sold shares worth a net Rs 1,278.37 crore.
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