Indian stocks hit record high

India's stock market surged Friday, touching a new high on hopes that election results next week will usher in a stable government capable of pushing reforms and reviving the flagging economy. The Bombay Stock Exchange's benchmark index rose 3.15 percent to hit 23,048.49 points, before trimming some of the gains to close at 22,994.23 points. "The market was cautious over the last few days," said Alok Churiwala, managing director of brokerage Churiwala Securities. "But now, the view is that the National Democratic Alliance (NDA) led by the BJP (Bharatiya Janata Party) will be able to form a government without needing any last minute supporters that impinge on government functioning," according to AFP.