MUMBAI: Shrugging off pre-poll nervousness, stock markets on Thursday greeted the victory of the BJP-led coalition with a scintillating rally with stocks and indices vaulting to new peaks. Bulls ran amok taking the Sensex to an all-time high of 4985.15, just 15 points short of the magical figure of 5,000.

Pressler waived

WASHINGTON: The US House-senate conference committee today agreed to a waiver of the Pressler amendment and other laws, paving the way for resumption of American arms sale to Pakistan. The decision, seen as a triumph for Pakistan, is believed to sweeten the signing of the CTBT for the Sharif government.

Moody's rating

NEW YORK: Moody's Investors Service today said it raised the outlook to positive from stable for India's BA2 rating on foreign and domestic currency debt. Moody's pointed out that the country's balance of payments was "resilient" through the Asian and Russian crises.