India soars nearly 3% on election hopes

|By:, SA News Editor

Investors are placing bets ahead of next week's election results which are expected to show a win for the opposition party's Narendra Modi and the worst-ever defeat for the ruling Congress Party amid a wave of graft scandals, rising inflation, and slowing growth.

The Sensex - up 2.9% last night - is ahead by 17% since the opposition BJP party named Modi as its PM candidate last September.

Leading last night's advance was ICICI Bank (IBN +5.2% premarket). HDFC Bank (HDB +2.9% premarket)

ETFs: EPI, INDY, SCIF, PIN, INP, INDL, INDA, INXX, SCIN, INCO, SMIN