DHAKA: Early results in India’s general election put opposition leader Narendra Modi on course for an absolute majority on Friday, handing him an unfettered mandate to launch his agenda to revive growth and create jobs.

At 10:05 a.m. local time (0435 GMT), the alliance led by Modi’s Bharatiya Janata Party was ahead in 304 seats.

MARKET REACTION

The benchmark share index rose as much 6.1 percent, hitting a record highThe partially convertible rupee rose to 58.68 per dollar, its strongest level in 11 months

The benchmark 1-year bond yield dropped 9 basis points on the day to 8.69 percent, its lowest since Feb 11, reports the zeenews.india.com.

BDST: 1117 HRS, MAY 16, 2014