The results of the Lok Sabha polls will be announced on Tuesday.
Indian stock markets have been volatile in the run-up to the exit polls and subsequent election results. The Nifty 50 index ended 2% lower last week.
Several brokerages predicted between 290 and 310 seats for the BJP on a standalone basis until last week.So how will markets react to these exit polls?
“The exit poll results indicating a clear victory for the NDA with around 360 seats completely eliminates the so-called election jitters that weighed on the markets in May,” said VK Vijayakumar of Geojit Financial Services.
“This comes as a boost to the bulls who will trigger a big rally in the market on Monday. Large caps in the financial, capital goods, automobile and telecom sectors are likely to lead the rally. Bulls will be further emboldened by the better “A GDP growth of 8.2% more than expected, which occurred after trading hours on Friday, technically and fundamentally, the market is ready for a rally,” he added.
However, Dhiraj Relli of HDFC Securities believes that Indian markets may not react significantly to these numbers at the close.
“Either way, the disappointment or euphoria may subside in a few days and the focus may shift more to policy announcements during the first 100 days of the new government. This result was essentially in line with expectations. can, after the initial enthusiasm, wait for the new path traced by the last government. he said.
Watch full coverage of the exit polls and election results at CNBC-TV18 here.
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