In the previous trading session, all indices including Sensex and Nifty posted their best intraday gains as polls showed Narendra Modi’s BJP winning over 350 seats and National Democratic Alliance (NDA) getting between 360 and 400 seats.
But if the exit polls’ predictions go wrong and allies from the INDIA bloc manage to win a majority or 295 seats, the stock market, which is betting on a massive victory for the BJP, may plunge, according to experts.
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Strong economic data such as 8.2% GDP growth in the 2023-24 financial year, a list of 100-day measures and the final budget will be key points for the market to watch in the coming weeks, the Financial Express said.
The Axis My India exit poll estimated 322–340 seats for the BJP, up from the 303 seats it won in the 2019 Lok Sabha elections, and 39–61 seats for its allies.
It gave Congress 60–76 seats, up from 52 seats in 2019 and 71–90 seats for its INDIA bloc allies. A political party/alliance needs 272 out of 543 Lok Sabha seats to form a government at the Centre.
