“We expect the markets to consolidate now at these levels as investors wait to see campaign promises turned to action,” U.R. Bhat, managing director of the India unit of Dalton Strategic Partnership LLP, said in the Bloomberg article. “Good things were going on for too long.”

The benchmark National Stock Exchange of India, or NSE, has jumped 25.8% to record highs ever since Modi was named as a prime ministerial candidate for the opposition part.

Market Vectors India Small-Cap Index ETF

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