Sensex rallies over 400 points after Narendra Modi's resounding victory

The benchmark BSE sensex rallied over 400 points in early trade on Friday a day after Prime Minister Narendra Modi-led BJP got an absolute majority in the Lok Sabha elections. Amid market euphoria, the rupee also appreciated 23 paise to 69.78 against the US dollar. After hitting a high of 39,223.85, the 30-share index was trading 170.51 points, or 0.44 per cent, higher at 38,981.90. Similarly, the broader NSE Nifty spurted 54.15 points, or 0.46 per cent, to 11,711.20.

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