Prime Ministers have come and gone, but India's equity kept rising despite short-term shocks. With the Bharatiya Janata Party-led National Democratic Alliance set to form the government for the third term, the stock market was hit by significant volatility on the counting day.
Since the launch of India's oldest stock exchange, the benchmark gauge—S&P BSE Sensex—saw the maximum rally of nearly 400% from May 22, 2004 to May 26, 2014, during the tenure of Manmohan Singh.
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This was followed by Narendra Modi's double stint as the Prime Minster from May 26, 2014, when the Sensex rose a little over 202.16%. Both Modi and Singh were in office for about 10 years each.
Meanwhile, during PV Narasimha Rao's term from June 21, 1991 to May 16, 1996, the equity gauge rose by 180.76%.
Atal Bihari Vajpayee's short first stint from May 16, 1996, to June 1, 1996, was the only time the benchmark saw a decline.
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