Latest -Stock Market: Sensex, Nifty 50 Hit Record Highs After Exit Polls Predict BJP-Led NDA Win

Stock Market: Sensex, Nifty 50 Hit Record Highs After Exit Polls Predict BJP-Led NDA Win

India’s BSE Sensex and Nifty50, the country’s equity benchmark, advanced during the opening trading on Monday, reaching lifetime highs in view of most exit polls indicating the Bharatiya Janata Party led by PM Narendra Modi to retaining power for another five years. BSE Sensex was above 76, 100 and Nifty 50 was above 23,200 in the week when business correspondents visited firms. The voters have given their faith to BJP led by Narendra Modi that they will cross the magic figure of 300 with many of the exit polls suggesting that they may even score over ‘400 Paar’. The Lok Sabha elections were conducted in seven phases and the counting of votes will be done on June 4, 2024.

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You may wonder which stocks will be most likely to earn the highest profits? Of the stocks which could perhaps be punitive, or rather post punitive results, top on the list would be… What should your investment strategy Do the same thing? Where will BSE Sensex and Nifty50 be today: Is BSE Sensex and Nifty50 going to reach highest level? This implies that in case the predictions made by the exit poll prove to be true, then there are high chances that there is going to be a dramatic increase in the share value of companies referred to as “Modi stocks. ” These are enterprises or industries that have not only benefited from the reforms instituted by the government led by Narendra Modi but also those that have in one way or the other benefited from the policies formulated by the said government.

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Banks and other investors, who look for opportunities which raise through government induced growth, look forward to such stocks.

As it has been expected with the exit polls most analysts have claimed that Modi stocks are likely to rise. They include Nykaa which intends to go public soon and optimistic investors expect the continued implementation of Modi policies to enhance the growth and profitability of these cοmpanies.

“The win of PM Modi/BJP bodes well for the economy and capital markets since it gives stability and consistency in policymaking with a single-party majority government that is expected to push its economic agenda. Equity markets lately shown some worry and nervousness over the impending political uncertainties, resulting in a substantial increase in volatility in April and May 24. With this unambiguous ruling, we believe markets will sigh with relief and return to fundamentals/business-as-usual mode.

India is experiencing a mini-Goldilocks moment with excellent macros (GDP growth of 8.2% in FY24 on the back of ~7% growth in FY23, inflation at ~5%, both current account and fiscal deficits well within tolerance band, stable currency, etc.), solid corporate earnings (Nifty ended FY24 with 25% earnings growth and FY25/26 earnings are likely to post 14-15% CAGR), focus on manufacturing, capex, and infrastructure creation, and valuations at 20x one-year f This ruling, and the subsequent political stability and continuity in policy-making, would act as the frosting on the cake, keeping India as the cynosure of all eyes.

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