A preamble into what awaits, exit polls have revealed a massive shift of power in the coming years. Results of different exit polls released yesterday show Prime Minister Narendra Modi's Bharatiya Janta Party advance in Akhilesh Yadav's Uttar Pradesh, along with Goa and Manipur. Numbers given by the exit polls, however, vary dramatically, and suggest convergences only in broad trends.
In Uttar Pradesh, five polls; India News MRC, Times Now VMR, ABP Lokniti CSDS, India TV-C Voter and India Today Axis, have predicted the saffron party in the lead, with 155 to 279 seats. The SP-Congress tally varied from 88 to 169 seats, while Mayawati's Bahujan Samaj Party with seats just between 28 and 93 seats. The data seems to just have boosted Yadav's will. He extended a hand of alliance to the BSP, saying that no one wanted President's Rule in the State. "Will do anything to keep the BJP out. An alliance with BSP would be better than President's Rule in UP," Yadav said. He said he does not want a situation where the BJP "controls UP through remote control"
Exit polls in Punjab shows a tight contest between Aam Aadmi Party, and the Congress. India Today Axis poll showing the Congress ahead with 62-71 out of 117 seats and India TV-CVoter showing the AAP ahead with 59-67 seats. Overall, polls showed a huge defeat for the Shiromani Akali Dal-BJP combine in the state. News 24 Today's Chanakya, India Today Axis and India News MRC, showed the BJP winning the state in Uttarakhand.
"The market has already priced in BJP’s victory in four out of five states. If the actual results are per predictions, the Nifty could gain up to 200 points; else the market would correct sharply," said Nilesh Shah, MD, Kotak Mutual Fund. "However, a clear majority for the Bharatiya Janata Party (BJP) in UP could trigger fresh buying by FIIs, who were sitting on the sidelines for last few months," he added.
"We are going to see a good rally in markets in the mid-term if BJP comes to power in UP and other states. But in the short-term, the market has already discounted the BJP victory," said Motilal OswalBSE 1.17 %, chairman, Motilal Oswal Financial ServicesBSE 1.17 %. "Modi could go for major reforms if he wins the UP elections."
