Exit polls 2019 impact: Markets may soar 5% to all-time highs on Monday, say experts
Amid all the sound and fury of exit polls surveys released by various agencies the big takeaway for equity investors is that the markets could break all records tomorrow! Various exit polls surveys have revealed that Bharatiya Janata Party (BJP) is expected to come to power under Prime Minister Narendra Modi again.
Amid all the sound and fury of exit polls surveys released by various agencies the big takeaway for equity investors is that the markets could break all records tomorrow! Various exit polls surveys have revealed that Bharatiya Janata Party (BJP) is expected to come to power under Prime Minister Narendra Modi again.
Significantly, the 30 share Sensex closed at 37,930.77 on Friday. While 50 share Index Nifty50 closed at 11,407.15. Now, experts on Zee Business TV are predicting a massive gain of around 5% for markets tomorrow, as prospects of another Modi led NDA government have increased manifold. CVoter predicts as many as 287 seats for NDA, Republic-Jan Ki Baat says it will win 305 seats while News18-IPSOS Exit Poll says NDA will get anywhere near 292 seats and India News-polstrat exit poll predicts 298 seats for NDA. However, NewsX-Neta Exit poll has predicted that NDA will get 242 seats.
Market expert Ajay Bagga, giving his comments on Zee Business TV, expects markets to open at least 5 per cent higher on Monday. This means that both Sensex and Nifty can touch all time highs on Monday. On his part, Vijay Mantri, co-founder JLR Money told Zee Business TV that these huge numbers are possible as no party has been able to form government for two consecutive tenures in a long time.
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Avinash Gorakshakar, Head of Research at Joindre Capital Services said, ''Markets will definitely recover and gain around 3 to 4% tomorrow. The session will also see a profit booking, and shall remain volatile till 23rd May. As exit polls do not give real picture, the market will show an impact after real results only. However, the investor's mood will find it better as the average expectation of NDA was around 250 seats. "
Watch this Zee Business Video to know more about Lok Sabha Elections 2019 Exit poll:
The sharp rally which were witnessed in the last two trading sessions of the week suggests that the stock market is expecting a stable government at the Centre and therefore factoring a positive scenario. On Friday, the market skyrocket around 1.25 per cent on fresh buying by the domestic institutional investors (DII). The BSE Sensex shot up 537 points and closed at 37,930 levels while the 50-stock Nifty scaled 150 points before closing at 11,407 levels. Index Bank Nifty shot up 594 points and closed at 29,450 levels.
While the Lok Sabha Elections 2019 results will be announced on 23rd May (Thursday) and the real image of new PM will be clear. There can be sharp movement in the markets but the exit polls bring some decisiveness on the table as well, he added. "This week is going to be the most happening of the year wherein all eyes would be glued to not 'stock quotes' but 'vote quotes'," said Jimeet Modi, Founder and CEO, SAMCO Securities & StockNote.
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