Haryana, J&K Exit Polls 2024: How Will Election Results Affect the Indian Stock Market?

Recent exit polls in Haryana and Jammu & Kashmir predict losses for the BJP, which may impact the Indian stock market. MOFSL's latest strategy note highlights the market's sensitivity to these political changes and economic factors.

Exit PollsStock MarketHaryana ElectionsJammu Kashmir ElectionsBjpReal Estate NewsOct 07, 2024

Haryana, J&K Exit Polls 2024: How Will Election Results Affect the Indian Stock Market?
Real Estate News:The outcomes of the recent state elections in Haryana and Jammu & Kashmir, while not expected to be major market movers, could keep investors on edge. According to exit polls, the BJP is projected to lose in both states, which may have implications for the stock market, particularly the Sensex and Nifty.\n\n Exit Poll Projections in Haryana\nIn Haryana, the Congress party is anticipated to win a full majority with 50-58 seats in the 90-member assembly, compared to 31 seats in the 2019 polls. The ruling BJP, which was aiming for a hat-trick of wins, is projected to get 20-28 seats, down from 40 seats in 2019, as suggested by the CVoter exit poll.\n\n Exit Poll Projections in Jammu & Kashmir\nIn Jammu & Kashmir, the Congress-National Conference alliance is expected to secure 40-48 out of 90 assembly seats. The BJP is projected to win 27-32 seats, while the Mehbooba Mufti-led People's Democratic Party (PDP) may secure 6-12 seats. Other parties and independent candidates are likely to win 6-11 seats.\n\n Market Impact and Analysis\nMOFSL, a prominent financial advisory firm, notes that the stock markets are currently experiencing a tug-of-war between various headwinds and tailwinds. The firm points out that the monetary stimulus from China has led to a wave of tactical FII outflows from India. Additionally, corporate earnings, which enjoyed healthy double-digit growth over the past four years, are now moderating due to increasing commodity prices and the fading benefits from BFSI asset quality improvements.\n\nMarket guru Shankar Sharma compared the Congress to China's stock market, which is showing signs of recovery following Beijing's stimulus push. He tweeted, \

Frequently Asked Questions

What are the exit poll predictions for the Haryana elections?

The exit polls predict that the Congress will win a full majority with 50-58 seats in the 90-member assembly, while the BJP is projected to get 20-28 seats.

How is the market expected to react to the election results in Haryana and Jammu & Kashmir?

While the results are not expected to be major market movers, they could keep investors on edge due to the projected losses for the BJP and the potential implications for economic policies.

What are the key factors affecting the Indian stock market according to MOFSL?

MOFSL highlights several factors, including monetary stimulus from China, moderating corporate earnings, and high-frequency economic indicators showing a softening in demand.

What are the positive catalysts mentioned by MOFSL for the Indian economy?

MOFSL believes that the ongoing festive season, better-than-expected monsoon, and a pick-up in rural consumption could provide near-term catalysts for economic activity.

Which stocks does MOFSL recommend for the midcap and smallcap segment?

MOFSL recommends Indian Hotels, Angel One, Godrej Properties, Persistent Systems, Metro Brands, PNB Housing, Global Health, Cello World, Dixon Tech, and Five Star Business Finance.

Tags:

Related News Articles

Aadhar Housing Finance Eyes Sustained Growth of Over 20% in Disbursements and Asset Base
real estate news

Aadhar Housing Finance Eyes Sustained Growth of Over 20% in Disbursements and Asset Base

Aadhar Housing Finance projects disbursements and assets under management to grow at over 20% this year

May 30, 2024
Read Article
No Reversal on Real Estate LTCG Tweaks: Government Stands Firm
Real Estate

No Reversal on Real Estate LTCG Tweaks: Government Stands Firm

Government sources have confirmed that there will be no reevaluation of the changes made to Long Term Capital Gains tax (LTCG) in the Union Budget, despite concerns over the removal of Indexation benefit on property sales.

July 24, 2024
Read Article
Navigating the Industrial REIT Landscape: A SWOT Analysis of EastGroup Properties
Real Estate

Navigating the Industrial REIT Landscape: A SWOT Analysis of EastGroup Properties

EastGroup Properties, a real estate investment trust (REIT) specializing in industrial properties, is at a crossroads in the ever-evolving industrial REIT landscape.

September 28, 2024
Read Article
Godrej Group Makes Major Move in Mumbai Real Estate by Acquiring Land for Rs 81 Crore
real estate news

Godrej Group Makes Major Move in Mumbai Real Estate by Acquiring Land for Rs 81 Crore

In a strategic move, Godrej Group, through its real estate subsidiary Anamudi Real Estates, has acquired a significant plot of land in the bustling city of Mumbai for Rs 81 crore. This acquisition marks a major step in the company's expansion plans in one

February 8, 2025
Read Article
Why Pattaya is the Next Big Thing for Indian Property Investors
Real Estate Mumbai

Why Pattaya is the Next Big Thing for Indian Property Investors

A luxury sea-view condo in Pattaya costs as much as a mid-range apartment in Mumbai. Discover why Pattaya is quickly becoming a hot spot for Indian property investors, offering exceptional value and potential returns.

February 24, 2025
Read Article
Akshaya Tritiya: Can It Spark a Surge in Real Estate Demand?
real estate news

Akshaya Tritiya: Can It Spark a Surge in Real Estate Demand?

With reduced EMIs making home loans more affordable, Akshaya Tritiya could be the catalyst for a surge in real estate demand, especially in the luxury and high-end market segments.

April 28, 2025
Read Article