The prospect of Prime Minister- designate Narendra Modi leading India’s most stable government in three decades has prompted economists to raise growth forecasts in the world’s second-most populous nation.
Emerging-market stocks fell, trimming a monthly advance, as oil and gold slumped. The Standard & Poor’s 500 Index closed at a record, while Treasuries were little changed as data showed an uneven recovery in the economy.
Mahindra & Mahindra Ltd. and Ford Motor Co. are preparing for a rebound after the worst sales slump in India in a decade. They are priming new capacity, betting Prime Minister Narendra Modi will spur demand.