Market Reaction on Congress alliance set to win polls
The ruling Congress-led alliance was projected on Saturday to win a second term in office after a general election, according to vote counting trends from the election commission. Analysts say this would cheer markets as the coalition government would not need the support of leftist parties that have blocked liberal reforms and opposed foreign investment, particularly in the financial sector. Leftist parties had propped up the government of Prime Minister Manmohan Singh for four of its five years in power but they withdrew support after India signed a civilian nuclear deal with the United States despite protests from communist allies
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