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How Sensex, Nifty fared on last three Lok Sabha election results day

How Sensex, Nifty fared on last three Lok Sabha election results day

How Sensex, Nifty fared on last three Lok Sabha election results day
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By Mousumi Paul  May 24, 2019 3:35:49 PM IST (Published)

The two Indian equity benchmark indices have mostly remained extremely cautious of the investors' behaviour.

The BSE Sensex and NSE Nifty50 have always been under pressure on the day of election results. The two Indian equity benchmark indices have mostly remained extremely cautious of the investors' behaviour. The Sensex and the Nifty settled 0.7 percent lower after hit their all-time highs on May 23, when the results of the 2019 Lok Sabha elections were announced. Prime Narendra Modi's Bharatiya Janata Party has secured 303 seats out of total 542, according to election commission data.

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The biggest gain for Sensex and Nifty was witnessed during the 2009 general elections. On May 18, 2009, Sensex rose 17 percent to 14,284.21, and Nifty 50 surged 18 percent to 4,323.15.
The year 2009 had been the best one for the indices as it rose more than 15 percent after the UPA government came into power again. Meanwhile, in 2014, markets escalated higher as market participants hoped of BJP to control the accelerating economy and speed up reforms.
In fact, the BSE index hit its all-time high of 25,000 on May 16, 2014, and this time (2019 elections) it hit 40,000 for the first time.
On the contrary, the Sensex logged its biggest drop in 2004 where it fell about 6 percent on the day of election results. Congress came into power that year after exit polls indicated a hung parliament.
In the past, Sensex fell 3-8 percent in two months after 1999 and 2014 post elections. This effect can be seen for Indian markets too as there is a long list of issues and global macros this time.
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