‘Modi premium’ boosts Indian stocks

The prospect of a change of government in India has got investors excited.

The most important election in emerging markets in 2014 will be India's, says Ian King in The Times. Narendra Modi, the leader of the Hindu, centre-right BJP party, looks set to replace the Congress Party's Manmohan Singh as prime minister after elections in May.

Following BJP victories in four state elections last month, India's benchmark Sensex index rose to another record high. Modi, says brokerage CLSA, is "the Indian stock market's greatest hope".

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