Exit polls predict BJP win in UP, but Dalal St euphoria to fade away soon
Like Bihar elections, this event would also be forgotten by the markets within a week, analysts say Exit polls have predicted a victory for the Bharatiya Janata Party (BJP) in the key state of Uttar Pradesh (UP) that is being dubbed as the semi–final to the 2019 general elections, and appeared to be too close to call. Over the past few sessions, the markets have been moving sideways, consolidating the 9% gain made thus far in calendar year 2017. Analysts say the outcome could create distractions (or positives) for the government and will be interpreted as a referendum on the government’s demonetisation drive. Here is a quick compilation of what the leading market experts think about the possible outcome and its implication for the economy and markets: G. CHOKKALINGAM, FOUNDER & MANAGING DIRECTOR OF EQUINOMICS RESEARCH & ADVISORY The exit polls have predicted significant improvement for the ruling party at...