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India Stocks Climb to Record as Opposition Wins Strengthen Rupee

India’s (SENSEX) benchmark stock index surged to a record and the rupee climbed to a four-month high after the nation’s main opposition party won the state polls.

The S&P BSE Sensex jumped 1.6 percent to 21,326.42 at the 3:30 p.m. close in Mumbai and the currency touched 60.8475 per dollar, the strongest level since Aug. 12. Ten-year bonds ended a seven-day losing streak. ICICI Bank Ltd. (ICICIBC) soared 5 percent, sending a gauge of lenders to its highest level since June.