Assembly elections have been completed in Maharashtra and Jharkhand. The counting of votes will take place on November 23, before which a flurry of exit polls have started. But seeing the way the exit polls have given opposite results in the last few elections, the confidence in the projections being made in the exit polls has been shaken a bit.
Actually, Maharashtra is a big state and Mumbai is also the economic capital. Jharkhand is also a big state in terms of industry. Both states are important on the economic front. Before the elections, there was an NDA government in Maharashtra, while there was an INDIA alliance government in Jharkhand.
Effect of exit poll will be visible in stock market
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Now if we look at the exit polls, most of the agencies are predicting that the NDA i.e. Mahayuti government can remain in power in Maharashtra. However, in some exit polls, Mahavikas Aghadi is being said to be ahead.
Some similar projections are being shown in the exit polls regarding Jharkhand assembly elections, here too the path for BJP is being said to be easy. That means NDA government can be formed. Whereas here also some agencies are showing JMM being successful in saving power.
But amidst all this, the movement of the stock market today i.e. on Thursday will be an important link. All the big investors of the country and the world have their eyes on these elections. They will also be speculating about the results in their own way, a glimpse of which can be seen in the stock market on Thursday.
If experts are to be believed, if the stock market rises today then it can be assumed that the NDA government is coming back in Maharashtra. If there is a decline then the results will be in favor of Mahavikas Aghadi or there will be an indication of stuck result.
Maharashtra is an important state from economic point of view
Actually, Maharashtra is an important state for the Central Government. If Mahayuti government is formed here again then there will be no conflict regarding various policies. Anyway, Mumbai is the economic capital of the country and there are many big companies of the country and the world in the state. But if there is a change of power here and Mahavikas Aghadi gets a chance to form the government, then differences may be seen between the Center and the state on some issues.
Same is the situation with Jharkhand also. There are many big companies from the steel plant of Tata Group here. Many big mines including coal mining are also in Jharkhand. If NDA comes to power here, its reflection can be seen in the stock market. In fact, the market is always in favor of a stable government, no matter whose government it is. If the same party is successful in forming the government at the Center and the state, then it becomes easier for the industry to take decisions on policies.
Let us tell you, on Wednesday the stock markets were closed due to elections in Maharashtra and Jharkhand. Now Thursday is going to be an important day for the market, because earlier on Tuesday there was a strong rise in the stock market. But the market slipped rapidly in the last one hour. At one time the Sensex was up by 1000 points, which remained up by only 239 points till the close of trading.
The market is waiting for a big trigger
However, on Tuesday the market was successful in closing in the green zone after a week. But the market is still feeling heavy pressure. The Sensex reached 85,978.25 points in September, from where it fell to 77,578.38 points on Tuesday. That means Sensex has fallen 8000 points from its high.
Meanwhile, there has been a dent of 10 to 30 percent in the portfolio of investors. The biggest reason for this decline is that the results of the second quarter were not as per expectations. But experts believe that now the market has fallen a lot and the market needs a big trigger to change its course. In such a situation, the elections of Maharashtra and Jharkhand can prove to be an important link. The market can react to the exit polls today before the results. By the way, it is also said that the market senses any decision before the general public.