The stock market will keep an eye on the results of the Lok Sabha elections, what do the experts say?

Stock Market News Updates: This week’s general election results and Reserve Bank of India’s decision on interest rates will determine the direction of the stock market. Analysts have expressed this opinion. However, it is believed that the BJP-led National Democratic Alliance (NDA) is expected to get a big win in the ‘exit polls’ and the strong data of Gross Domestic Product (GDP) growth rate will increase the share. Markets can be found on Mondays. Exit polls on Saturday predicted that Prime Minister Narendra Modi would retain power for a third consecutive term. Counting of votes will be held on June 4.

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What do the experts say?

Santosh Meena, head of research at Swastik Investmart said, “The most important development now is the Lok Sabha election results on Tuesday. Before this, market participants will respond to an ‘exit poll’.

“The market is watching it cautiously, and the market may bounce after the exit poll,” Meena said. However, if the results are reversed, there may be some ‘jitters’ in the market.” He said that apart from the election results, another important development for the market is the Reserve’s Monetary Policy Committee (MPC) meeting. Bank of India. The result of the MPC meeting will come on June 7.

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Meena said, “After the election results, everyone will be watching the trend of foreign investors. On the global front, macroeconomic data from the US and China will play an important role.

VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The exit poll results giving the NDA a clear lead with around 360 seats, could lead to a strong rally in the market on Monday.

He said after the market closed on Friday, the gross domestic product (GDP) growth figure for the fiscal year 2023-24 was better than expected at 8.2 percent. This is also expected to boost the market.

Siddharth Khemka, head of retail research at Motilal Oswal Financial Services Ltd, said, “Along with exit polls, the market will also react to the GDP data, as it will take the uncertainty out of the market.”

Last week, the 30-share BSE Sensex fell 1,449 points or 1.92 percent. At the same time, the Nifty of the National Stock Exchange was down 426.4 points or 1.85 percent. The Sensex hit an all-time high of 76,009.68 points on May 27. On the same day, the National Stock Exchange’s Nifty also touched an all-time high of 23,110.80 points.

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