Indian Markets Set To Rally As BJP Sweeps Uttar Pradesh

Indian indices are set to rally when trading opens on Tuesday, following the big victory of the BJP in Uttar Pradesh.

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Benchmark indices are set to rally on Tuesday, following the big victory of the BJP in the Uttar Pradesh and Uttarakhand assembly elections.The markets would be closed for trade on Monday on account of Holi and would now react only on Tuesday.

Indian Markets Set To Rally As BJP Sweeps Uttar Pradesh
Some analysts now believe that it could also result in the Nifty and the Sensex now hitting a new lifetime high in the next few weeks.

The Sensex closed at 28,946 points and the rally is now likely to sustain for at least another 500 points. The belief now is that the Narendra Modi government would now be able to take foward the reforms process ahead. The state elections was largely built as a semi finals, ahead of the central government elections in 2019. The BJP had lost the state elections in Delhi and Bihar, after which it was a must for the Narendra modi government to win UP.

Those looking to buy now, maybe slightly late, given the possibility of a sharp rally on Tuesday. It maybe better for investors to wait and then buy before the markets settle down once again.

GoodReturns.in

Read more about: sensex, nifty
Story first published: Saturday, March 11, 2017, 9:22 [IST]
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