The results of the elections held in Maharashtra and Jharkhand have arrived and its effect can be seen in the stock market today. Experts also express hope that Friday’s rally in the market will continue. Let us tell you that while the BJP-led Mahayuti alliance scored an excellent victory in Maharashtra, Hemant Soren’s party won in Jharkhand. Especially in Maharashtra, the BJP’s victory is expected to have an impact on the stock market. If we talk about global indicators, this also points to a positive start in the market. Gift Nifty is trading up to 300 points.
There was a stormy rise in the market on Friday
Friday, the last trading day of last week, saw a stormy rise in the stock market. Just before the assembly election results in Maharashtra, the 30-share Bombay Stock Exchange’s Sensex had risen 2,000 points, while the National Stock Exchange’s Nifty had risen about 600 points. By the end of market trading, this pace had slowed down slightly, but despite this, the BSE Sensex closed at the level of 79,117.11 with an increase of 1961.32 points or 2.54 per cent, while NSE’s Nifty index closed up 557.35 points or 2.39 per cent had closed at the level of 23,907.25.
Sharp rise in Gift Nifty today
Now let’s talk about the global signals received on Monday, the first trading day of the week, that point to a continued market rally. Growth is seen in Asian markets and Japan’s Nikkei to South Korea’s Kospi saw an increase of more than 1 percent, while Gift Nifty also rose 1.30 percent or around 311. It appeared to be trading with a jump. . in numbers. We tell you that last week good growth was observed in the US markets from the Dow Jones to the S&P500.
Experts express these estimates.
If stock market experts are to be believed, they say the impact of the BJP’s victory in Maharashtra can be clearly visible in the market. According to the Business Today report, Santosh Meena of Swastika Investmart believes that the election results of Maharashtra and Jharkhand are important, especially in Maharashtra where the NDA recorded a unilateral victory (NDA Win In Maharashtra Election). He said this is likely to further boost bullish sentiment. Palaka Arora Chopra, director, Master Capital Services Limited, says stability in Maharashtra can boost the stock market, which will boost investor confidence. He said, however, the impact of the JMM-led alliance’s return to power in Jharkhand does not seem to be dampening the enthusiasm in the market due to Maharashtra’s victory.
Historic victory in Maharashtra
In Maharashtra, the BJP-led Mahayuti alliance won the assembly elections, while Congress’s Maha Vikas Aghadi (MVA) was eliminated. Mahayuti has won 233 seats in the 288-seat assembly state. While MVA is reduced to only 49 seats. The BJP contested the elections on 149 seats, of which it hoisted the victory flag on 132 seats. However, defying exit poll predictions, JMM is going to form the government in Jharkhand for the third time.
(Note: Before making any kind of investment in the stock market, definitely consult your market experts.)
