Analysts predict long bull run for Indian stocks

[MUMBAI] Indian stock investors agree with the nation's voters on at least one thing: it's time for new leadership.

As Narendra Modi's opposition bloc secured the largest electoral victory in 30 years on Friday, the biggest gainers in India's equity market were the companies likely to benefit most from a strengthening economy. That's a turnaround from the last three years, when investors favoured so-called defensive shares, such as drugmakers and consumer staples producers.

The shift underlines the growing conviction that Mr Modi, 63, can replicate the economic success he enjoyed in Gujarat state when he takes over as prime minister of the most populous democracy.