Latest News
-
1:10 Split Coming Up: Crorepati FMCG ITC Turns Rs 1,50,000 To Rs 1.2 Crore; Makes Big Announcement; BUY? -
Biggest Ever Stock Splits, 49 New Shares On Existing 1 Share; FMCG Makes Big Announcement Before Splitting -
Gold Prices India; Biggest Jump In 24-Carat In 55 Days; Know Tax Rates On Profits On Phsyical Gold -
Mandatory Testing for Indian Spices Destined for Singapore, Hong Kong After Ban -
TRAI Advocates for Enhanced Telecom Infrastructure Sharing Among Licensees -
LTIMindtree Reports Slight Q4 Profit Dip, Optimistic About Upcoming Growth -
Axis Bank Announces Q4 Net Profit at Rs 7,599 Crore Amid Deposit Accretion Worries -
hBits Expands to Pune with CyberCity Magarpatta Acquisition, Eyes Investment Opportunities -
India's First Green Hydrogen Pilot Project Goes Live at Nathpa Jhakri -
DCB Bank Q4 Results: PAT Grew 9% To Rs 156 Cr, NII Jumps 4.5%; Dividend Declared
Did leaked exit poll data propel the Sensex to 23,000 points?
But, what if exit poll data is leaked which pushes the Sensex to dizzy heights. Of course, that cannot be considered as illegal for sure.
If reports are to be believed this is what seems to have happened on Friday, the day the Sensex scaled a new record peak of 23,048.49 points. Everything was alright until the first one hour of trade. But, the sudden surge after 10 am and then through the entire day took markets by surprise.
One report suggests that a leaked exit poll forecast of a news channel, suggested that the Bharatiya Janata Party-led National Democratic Alliance (NDA) would secure 260-270 seats. This information probably made its way into the markets, which fuelled a fast and furious rally, that caught most bears unaware.
A popular television news anchor with great conviction suggested that the NDA could be headed for a majority. Of course, his television channel is also likely to broadcast an exit poll, which might suggest he may have exit poll data with him.
This may have been without factoring the last phase of elections due on Monday.
In any case, markets are now factoring a near majority for the Narendra modi led NDA. Whether investors had a whiff of exit poll data, even before the last phase of polls on Monday is another matter altogether.
Those who rode the rally are happily making their way to the bank.
GoodReturns.in
