Indian Indices Surge Amid Hot Election Campaign

Indian Indices Surge Amid Hot Election Campaign

Published on: May 17, 2024|1 min read
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London: 17 May 2024 (TraderMade): India has been striving to become an economic powerhouse for over a decade. The country, considered the largest democracy in the world, is undergoing its general elections, with 4 out of 7 stages of voting already over.

NDA vs INDI Alliance

Prime Minister Narendra Modi, his companions in the ruling National Democratic Alliance (NDA), and several political analysts and speculators have been confidently setting a narrative about their third term during the ongoing campaign for the 5th phase of voting.

At the same time, the INDI Alliance in the opposition firmly predicts that they will form the next government on 4 June 2024 (Election Result Announcement Day).

Indian Indices Up

India's BSE Sensex surged 2.16% over the last week, reflecting investor optimism. Similarly, NIFTY 50 soared 2.34% over the last week.

Though most investors speculate Modi's return to power for free food grains, medical coverage, and other schemes the Modi government provided, some may be doubtful due to criticism of unemployment, inequality, and the decline of democracy in the country.

Market participants will monitor both sides' campaigns' ups and downs and eagerly await the election results, which will be announced on 4 June 2024.