FILE PHOTO: People walk past the Bombay Stock Exchange building in Mumbai, India, January 25, 2017. REUTERS/Shailesh Andrade
Investor sentiment has been buoyant since exit polls were announced on Sunday, with both the NSE index and the BSE index gaining 3.7% each the next session, a level last seen in 2014. “However if this doesn’t happen and there is a hung parliament, or UPA comes into power, we can expect to see a huge correction, downside movement up to 10,450.”
The NSE index rose 64.8% during Modi’s first term till Wednesday’s close while the BSE index gained 63.6% during the same period.
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