BJP’s Performance To Impact Stock Markets: Study!
Compared to the last two elections, the 2024 polls are seen as an intense one.
June 4 is a very big occasion for the world’s biggest democracy India as the election results will be out. The Lok Sabha election results will be announced on the fourth of next month and all eyes are on this. Compared to the last two elections, the 2024 polls are seen as an intense one.
There is a reason behind this. In 2014 and 2019, the BJP was seen as a clear winner with Congress getting sidelined. But things are different now. Congress started a new alliance named INDIA. The grand old Congress party is confident of stopping the BJP.On the other hand, the BJP is saying that it will come to power again and it will even win 400 seats.
Amid this, celebrated financial firm Bloomberg came up with sensational news that highlights the link between BJP’s win and the Indian stocks. It said that the number of seats BJP wins would have a big impact on the market.
Bloomberg said that there would be a big josh for the stock market if the BJP wins over 303 seats. It also said that if BJP goes past the numbers it had in 2019 then it would be a jump of 3 percent.
While BJP’s win and winning seats will have a big impact on the market, BJP’s dip in the majority will also have a big impact. The study by Bloomberg found that if the majority goes down then the Nifty would see a drop while the Indian rupee and sovereign bonds might also fall.
It is common for the stock market to see fluctuations based on the election results and we have seen this in 2019. Now it appears that the same might happen. It might have both positive and negative impacts based on the results.