India’s BSE Sensex recovered from early losses to close marginally up at 84,563 on Friday, after a highly volatile session, on better-than-expected election results. Early results showed Prime Minister Modi’s National Democratic Alliance (NDA) leading in the crucial Bihar assembly elections, reinforcing expectations of policy continuity and political stability. At the same time, optimism about reduced US tariffs and expectations of RBI rate cuts helped to offset concerns over continued foreign outflows. Tata Motors led the gains, rising 3.4%, after reporting an annual jump in quarterly profits, despite lower revenues. Eternal, Bharat Electronics, Trent, Axis Bank and State Bank of India and Sun Pharmaceuticals were also among the top performers, adding between 1% and 2.1%.
