India’s Nifty 50 hits lifetime high of 9,122

The Indian benchmark index, the Nifty 50 rallied to hit fresh lift-time highs beyond 9k mark in early trades, as Indian traders returned from the extended break and cheered the Bharatiya Janata Party’s (BJP) win in the crucial state of Uttar Pradesh gives the Prime Minister Narendra Modi-led government a chance to push through economic reforms, Bloomberg reports.

Meanwhile, the broader Nifty 500 index has since gained 5.9% and the Nifty Bank index has advanced 5.5%. Among other Asian indices, the Japanese Nikkei 225 index trades subdued around 19,620 levels, while Australia’s ASX 200 index trades almost unchanged near 5,755 points.