{"id":135068,"date":"2023-12-04T10:39:12","date_gmt":"2023-12-04T10:39:12","guid":{"rendered":"https:\/\/myfintale.com\/?p=135068"},"modified":"2023-12-04T10:39:12","modified_gmt":"2023-12-04T10:39:12","slug":"equity-markets-likely-to-extend-gains-on-bjps-assembly-poll-wins","status":"publish","type":"post","link":"https:\/\/myfintale.com\/business\/equity-markets-likely-to-extend-gains-on-bjps-assembly-poll-wins\/","title":{"rendered":"Equity markets likely to extend gains on BJP’s Assembly poll wins"},"content":{"rendered":"

The domestic equity markets are expected to extend gains following the strong showing of the Narendra Modi-led Bharatiya Janata Party (BJP) in the state elections — a crucial precursor to the general elections in May.<\/p>\n

<\/p>\n

The BJP decisively secured victories in three of the four key states — Madhya Pradesh, Rajasthan, and Chhattisgarh.<\/p>\n

While the battles in these three states were closely contested, the scale of the BJP’s triumph has surprised many, heightening expectations for regime continuity in 2024 — a positive catalyst for the markets.<\/p>\n

“The market will perceive the election results positively due to the unexpected three-state win.<\/p>\n

“While there was anticipation of a BJP victory, the extent of winning three states exceeded Street expectations.<\/p>\n

“The initial reaction typically involves expressions of disappointment or excitement, followed by a return to fundamentals and global market dynamics.<\/p>\n

“With positive global indicators, the momentum is likely to continue.<\/p>\n

“We anticipate a Santa Claus rally, which now has more legs,” said Andrew Holland, chief executive officer, Avendus Capital Public Markets Alternate Strategies.<\/p>\n

Last week, the benchmark S&P BSE Sensex and the National Stock Exchange (NSE) Nifty recorded their biggest weekly advances in five months.<\/p>\n

On Friday, the Nifty surpassed its previous record high from September.<\/p>\n

“With the ruling party securing wins in three states, we see celebratory market activity.<\/p>\n

“However, this optimism may be short-lived, and market trends will once again be guided by global developments,” noted Ambareesh Baliga, an independent equity analyst.<\/p>\n

On Friday, the Nifty closed at 20,268, surpassing its previous closing high of 20,192 on September 15.<\/p>\n

he Sensex concluded at 67,481, slightly below its record closing high of 67,839, also recorded on September 15.<\/p>\n

Additionally, the market capitalisation of NSE-listed companies exceeded the $4 trillion mark for the first time on Friday, reaching Rs 334.7 trillion ($4.02 trillion).<\/p>\n

Global markets registered their biggest monthly gain in three years in November, propelled by a sharp decline in US bond yields.<\/p>\n

Investors are betting that the US Federal Reserve has concluded its interest rate hikes and will soon begin lowering rates.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The domestic equity markets are expected to extend gains following the strong showing of the Narendra Modi-led Bharatiya Janata Party (BJP) in the state elections […]<\/a><\/p>\n<\/div>","protected":false},"author":3,"featured_media":135067,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nEquity markets likely to extend gains on BJP's Assembly poll wins - my finance tale<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myfintale.com\/business\/equity-markets-likely-to-extend-gains-on-bjps-assembly-poll-wins\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equity markets likely to extend gains on BJP's Assembly poll wins - my finance tale\" \/>\n<meta property=\"og:description\" content=\"The domestic equity markets are expected to extend gains following the strong showing of the Narendra Modi-led Bharatiya Janata Party (BJP) in the state elections [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/myfintale.com\/business\/equity-markets-likely-to-extend-gains-on-bjps-assembly-poll-wins\/\" \/>\n<meta property=\"og:site_name\" content=\"my finance tale\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-04T10:39:12+00:00\" \/>\n<meta name=\"author\" content=\"Vogel\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/myfintale.com\/wp-content\/uploads\/2023\/12\/Equity-markets-likely-to-extend-gains-on-BJPs-Assembly-poll-wins.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Vogel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/myfintale.com\/business\/equity-markets-likely-to-extend-gains-on-bjps-assembly-poll-wins\/\",\"url\":\"https:\/\/myfintale.com\/business\/equity-markets-likely-to-extend-gains-on-bjps-assembly-poll-wins\/\",\"name\":\"Equity markets likely to extend gains on BJP's Assembly poll wins - 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