Stock market crash: What happens if INDIA bloc wins?

With the exit polls showing a potential win for the Narendra Modi-led government, PSUs rallied in anticipation of continuation of the reform gains.

Published on: Jun 4, 2024, 13:20:46 IST

By HT News Desk

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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.

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

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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