Gujarat, Himachal Pradesh Exit Poll Results 2022 predict big win for BJP: How will this impact Stock Market? Anil Singhvi answers

Gujarat, Himachal Pradesh Exit Poll Results 2022 predict big win for BJP: Exit polls have predicted a big majority for the BJP in Gujarat and a dead heat in Himachal Pradesh where most pollsters gave an edge to the ruling party over the Congress.

The counting of votes in both states will take place on December 8. Elections for the Himachal Pradesh assembly took place on November 12, while polling in Gujarat happened in two phases, on December 1 and 5.

A sweeping victory for Bharatiya Janata Party (BJP) will add colours to the already buoyant sentiments on Stock market. Zee Business Managing Editor Anil Singhvi said, "There's a clear sentiment in the market that BJP is returning to power in Gujarat. Although, Delhi MCD Elections don't have much relevance but yes they are in the news this time."

"Himachal Pradesh has a history of voting out the incumbent. However, pollsters gave an edge to the ruling party BJP this time," he added. 

All exit polls predicted a big mandate for the BJP in Gujarat in the range of 117-151 seats in the 182-member assembly, while the Congress was predicted to bag seats in the range of 16-51. The Aam Aadmi Party was projected to bag anything between two and 13 seats. The majority mark in Gujarat is 92.

Anil Singhvi noted, "As far as the market is concerned if BJP loses in both Gujarat and Himachal Pradesh assembly elections, that mandate will have more impact, but Gujarat is BJP's home turf, and BJP is likely to to return with a bigger mandate."

He opined, "The sentiment is positive because the market needs continuity in policies and stability. If BJP wins both in Gujarat and Himachal Pradesh and fares better in Delhi MCD Elections, then the market reaction on December 8 will be better. However, as of now it's neutral to high positive reaction based on Exit poll results 2022."

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