Decisive Mandate For BJP in Delhi A Positive For Stock Market

New Delhi: The decisive mandate in favour of the BJP in Delhi assembly elections would be sentimentally positive for the markets and could act as a trigger to attract foreign institutional investor (FII) flows, a report showed on Monday.

Although the exit polls had accurately predicted the election results in favour of the BJP, the actual seat wins were significantly higher at 48 out of the 70-seat assembly, according to the report by JM Financial Institutional Securities.

The incumbent AAP was restricted to 22 seats while Congress gained none. The BJP’s vote share improved to 45.6 per cent while it slipped in the case of AAP. “The decisive mandate in Delhi along with comfortable wins in Haryana and Maharashtra, allays fear which had set-in post the lower than expected mandate for BJP in the General Elections 2024 and, hence, would be sentimentally positive for the markets,” the report noted.

The ruling party AAP was restricted to just 22 seats compared to 62 seats in the previous assembly election in 2020.