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Exit polls project BJP sweep in Maharashtra, Haryana; but D-Street not too excited about it

Analysts said market had discounted that the BJP-led NDA would retain power in both states.

ETMarkets.com|
Oct 21, 2019, 07.41 PM IST
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The Times Now survey projected 71 seats for the BJP in Haryana while the Congress was projected to win 11.
NEW DELHI: Exit polls on Monday evening suggested continuation of the Bhartiya Janata Party (BJP) government in power in Maharashtra and Haryana, but analysts said the outcome may not really excite the stock market when it opens for trading on Tuesday, as such a win was already in the price.

They said the market had discounted that the BJP-led NDA would retain power in both states and it was only the scale of victory that was being debated.

For Maharasthra, Times Now poll projected 230 seats for the BJP-Shiv Sena coalition, 48 for the Congress-MCP alliance and 10 for others. CNN-News18-IPSOS projected the BJP-Shiv Sena combine to win 243 seats in Maharashtra, while Congress-NCP is estimated to win 41 and others 4. India Today-My Axis polls predicted 181 seats for BJP-Shiv Sena, 81 for Congress-NCP and 26 for others. This is the most conservative prediction for the BJP-Sena combine.

The Times Now survey projected 71 seats for the BJP in Haryana while the Congress was projected to win 11. As per 'Jan Ki Baat' exit polls, the BJP is likely to win 52 seats and Congress 19 in the state. News X poll predicted 77 seats for the BJP and 11 for the Congress. Regional parties are expected to win somewhere between two to 20 seats.

Ajay Bodke, CEO-PMS at Prabhudas Lilladher, said the exit poll results were on the expected lines and market had discounted that the BJP-led NDA would retain power in both Maharashtra and Haryana.

"If the exit poll hold true, it essentially signifies that the opposition's message is not finding resonance among the electorate, and two most industrialised states in the country have spoken strongly in the favour of the government, This signifies continuance of political stability in the two industrial powerhouses of the country," said Bodke.

Deven Choksey, Group Managing Director at KR Choksey Investment Managers, said the exit poll results are a given, the market has already factored in a BJP win. “I don't think market will be positively surprised tomorrow. It has its own challenges to deal with."

Stock markets were shut on Monday for the assembly elections in Maharashtra.

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