Jammu and Kashmir, Haryana Elections 2024 Results Impact on Nifty?

Jammu and Kashmir Elections and Haryana Elections 2024 exit polls are expected to be released today. The count will start tomorrow and election results are likely to be on air by tomorrow evening.

The Congress-National Conference alliance is predicted to win 40-48 out of 90 assembly seats. The BJP is projected to win 27-32 seats and the People's Democratic Party may get 6-12 seats. Other parties and Independent candidates could win 6-11 seats.

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Jammu and Kashmir Elections and Haryana Elections 2024

Due to the Jammu and Kashmir Elections and Haryana Elections 2024,the volatility in the Indian stock market may rise. As of now, Nifty and Sensex both are trading near to the 25,050 and 81,907 in the Monday morning. Both the indices are trading flat and investors seem to be waiting for the Haryana Elections 2024 outcome before deploying the trade.

Will BJP Able to Win Haryana Elections 2024?

Haryana Elections 2024 is crucial for BJP. As a leading party in Haryana BJP seems to be facing trouble in securing majority seats in the state. The congress alliance seems to be strong and they are trying their best to defeat the ruling party.

If the BJP government loses in Haryana Elections 2024 then Indian markets may witness more correction in the coming days. Currently, Nifty is trying to hold the 25000 support, but more downfall is possible if Elections results are different from the market expectations.

Will BJP Able to Win Jammu and Kashmir Elections 2024?

Jammu and Kashmir Elections 2024 Results might also slightly impact the Indian stock market. The volatility index India Vix is at 14 showcase that volatility is on rise and market sentiment looks mildly bearish. If BJP loses in J&K Elections 2024, then short term downfall in Nifty and Sensex is possible.

Conclusion

Jammu and Kashmir Elections and Haryana Elections 2024 results will be out by tomorrow evening. It will be interesting to see how Nifty and Sensex react to the results. However, in the last week Nifty and Sensex fell by 4% approx so any positive news from the election can trigger a pull back rally.

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