Daily Business Wrap - Modi win sends Sensex zooming to 40,000 level

India’s benchmark Sensex index breached the keenly-watched level of 40,000 mark, marking a new record, but eased later as incumbent prime minister Narendra Modi stunned the opposition with a massive win, which investors said was indicative of continuation of business friendly policies.

The Bombay Stock Exchange rose as much as 40,124.96 or 1,014 points, before closing 0.76 per cent lower at 38,811.39. The National Stock Exchange Nifty index rose as much as 12,041.15, before closing 0.69 per cent lower at 11,657.05. The Nifty index has gained 7.31 per cent so far in the year.