Market sees UP poll results as a litmus test for the BJP

Markets have been consolidating and moving in a tight range ahead of the outcome of the assembly poll outcome in key states of Punjab, Uttar Pradesh (UP), Goa, Uttarakhand and Manipur – to be announced on March 11. 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. The election outcome in UP (the biggest state by population), is being dubbed as the semi–final to the 2019 general elections, and appears to be heading towards a close fight. Here is a quick compilation of what the leading market experts think about the possible outcome and its implication for the economy and markets: Astrology and Numerology Trading Tips

Samir Arora, founder and fund manager, Helios Capital

We do not believe that outcome of state elections can be a big development for the market. Bharatiya Janata Party (BJP) is expected to win in UP (the only election that matters in this round, if at all). Even if BJP does not win, we don’t think that investors will project this to derive conclusions about 2019 national elections. If BJP wins as expected, the market will have more reasons to go up for sure. Commodity Trading Tips