March 14, 2017 / 4:06 AM / 10 months ago

Indian main share index hits record after big Modi win in key state

MUMBAI, March 14 (Reuters) - India’s NSE index rose as much as 2.1 percent to a record high on Tuesday as investors saw Prime Minister Narendra Modi’s landslide victory in the northern state of Uttar Pradesh as endorsing his economic reform agenda.

The record was set in the first trading session since election results came out over the weekend. Indian markets were closed on Monday for a holiday.

The broader NSE index rose as much as 2.1 percent to a record 9,122.75 points, surpassing the previous peak of 9,119.20 hit on March 4, 2015

The NSE was last up 1.74 percent.

Meanwhile, the benchmark 10-year bond yield fell 4 basis points to 6.86 percent from its previous close, while the Indian rupee strengthened to 66.2150/66.2175 from its 66.60/66.61 close on Friday.

Reporting by Savio Shetty and Swati Bhat; Editing by Richard Borsuk

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