Gandhi 'to be India's new PM'

Sonia Gandhi has reportedly been confirmed as the new prime minister of India after her family’s Congress party won a stunning upset election victory.

Sonia Gandhi has reportedly been confirmed as the new prime minister of India after her family’s Congress party won a stunning upset election victory.

No official announcement has yet been made, but Ms Gandhi's politcal allies have reprtedly agreed to her appointment.

Meanwhile, India's stock market suffered its worst one-day plunge in four years today on fears that leftist parties set to form a new government with the Congress party would wind back fundamental economic reforms.

In afternoon trading, the benchmark index of the Bombay Stock Exchange, the Sensex, tumbled 6.24% to 5062.62 points from Thursday’s close.

The Sensex had opened 2.6% lower at 5261.81 points.

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