The final phase of the one month long elections concluded yesterday. The exit polls, the ban on which was lifted yesterday after the final phase of elections started giving their verdict on the elections. Most of them predicted around 200 seats both for UPA and NDA. They need 272 seats to form a government. Unable to find a clear winner and hopes of a stable government dying the market slumped today.
The results of the elections will be declared on May 16 i.e. on saturday this week. Since both alliance are short of the majority they would scramble with the smaller regional parties to establish a government. Since nobody would like another elections anytime soon a government is sure to be formed. The longer it takes for this to happen the more the economy will be affected. This will surely have its toll on the share market.
No comments:
Post a Comment