Jun 04, 2024 01:20 PM IST
With the exit polls showing a potential win for the Narendra Modi-led government, PSUs rallied in anticipation of continuation of the reform gains.
In the previous trading session, all indices including Sensex and Nifty registered their best intraday gains with the exit polls showing Narendra Modi’s BJP winning over 350 seats and the National Democratic Alliance (NDA) grabbing between 360 and 400 seats.
But if the exit polls prediction goes wrong and INDIA bloc allies manage to get majority or 295 seats, the stock market, which is betting on BJP’s massive win may plummet, according to experts.
Witness the final chapter of the Lok Sabha Elections unfold on HT with live vote count and results. Explore now! Explore now!
Also Read | UP winners list: INDIA surprises with 41 seats, NDA leading in 39 seats
Strong economic data like the 8.2% GDP growth in the financial year 2023-24, 100 days measures list and the final budget will be key points the market will observe in the coming weeks, according to them, Financial Express wrote.
The Axis My India exit poll estimated 322-340 seats for the BJP, up from 303 seats it won in the 2019 Lok Sabha Elections and 39-61 seats for its allies. It gave 60-76 seats for the Congress, up from 52 seats in 2019 and 71-90 seats for its INDIA bloc allies. A political party/alliance needs 272 of 543 Lok Sabha seats to form government at the Centre.
Also Read | What 200+ seats will mean for the INDIA bloc
