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    Lok Sabha 2009 election results

    Lok Sabha 2009 election results

    The Lok Sabha 2009 election results have given a clear mandate: the Congress-led United Progressive Alliance (UPA) is set to return to power and without support of the Left.

    The UPA raced to an early lead ahead of the Bhartiya Janata Party (BJP)-led National Democratic Alliance (NDA). Incumbent Prime Minister Dr Manmohan Singh is now set to continue in the role.

    The Indian rupee was trading at 4-month high of 48.40 a US dollar.

    On the global front, Asian markets were trading lower barring Taiwan. Nikkei declined 2.5%. Shanghai Composite, Hang Seng and Kospi fell 1.3% each. Straits Times was down 0.79%. However, Taiwan Weighted lost 0.7%.

    The dollar fell 0.5 percent to 94.75 yen, nearing a two-month low of 94.55. The shares of export companies are under presssure as a result of strong yen.