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BJP seat wins, Phalodi Satta Bazar & stock market: What will calm investor nerves on June 4?
Stock Market . 18th May, 2024

BJP seat wins, Phalodi Satta Bazar & stock market: What will calm investor nerves on June 4?

Investec said BJP reaching majority mark is the practical requirement for running a stable government, and anything over 2019 seat wins of 303 seats would indicate that BJP is increasing penetration in the country.


lok Sabha elections 2024: With stock market volatility keeping investors jittery and fear gauge India VIX suggesting heightened activity over next 30 days, brokerages are coming out with their views on what a recent fall in voter turnout in ongoing elections hint at for BJP seat wins, and the third term for Prime Minister Narendra Modi.

While a low voter turnout and anti-incumbency have no clear link, as suggested by past elections, the market has so far turned cautious, expecting no easy cakewalk for the BJP-led NDA against earlier hopes of 350-plus seats. Phalodi Satta Bazar, as per Investec, is still suggesting 300-odd seats for BJP.  

Investec said such an outcome -- 300 seats--- could be disappointing for some. But it believes BJP reaching majority mark (272 seats) is the practical requirement for running a stable government, and anything over 2019 seat wins of 303 seats would indicate that BJP is increasing penetration in the country.  Others agree. 

Nomura India said a lower voter turnout seems to have caught markets by surprise, given the wider expectation that BJP would be able to garner an overwhelming groundswell of support, as was the case in the previous 2019 elections.  

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