Investors await exit poll cues

PTI
Published May 12, 2014, 9:54 am IST
Updated Apr 1, 2019, 8:45 am IST
Exit poll results set to be announced today; investors to stay anxious till results
Bombay Stock Exchange (Photo: DC archives)
 Bombay Stock Exchange (Photo: DC archives)

New Delhi: Indian indices may see high volatility this week amid exit polls and election outcome, experts said. “The focus will be firmly on the exit polls due on Monday evening as well as on the final election results on Friday. A decisive verdict from the elections will be a long-term positive for the markets,” said Sanjeev Zarbade, vice-president for private client group research, Kotak Securities. On the macro front, industrial production data will come out on Monday. Crucial data on inflation-based on combined consumer price index (CPI) will also be declared on Monday, while that based on wholesale price index (WPI) will come out on Thursday. Besides, corporate earnings will also drive the markets.

Among major earnings this week are Punjab National Bank, Dr Reddys Laboratories, Tata Steel, Tech Mahindra, Bajaj Auto and NTPC. “Participants, be it investor or trader, should fasten their belts as it is going to be a very crucial week ahead that will set the tone for the markets. To start with, general elections are set to conclude on Monday and then we may see some surprises pouring in from exit poll numbers. On data front, IIP and inflation numbers are also scheduled this week. But, the most important event is the outcome of general election that is schedule on Friday,” said Jayant Manglik, president-retail distribution, Religare Securities Limited.

 

Keeping in mind the above data and events, it is advisable to keep cautious yet positive bias for next week, he said. Market experts said that this is going to be the most important week for the stock market as the country is set to unveil election results on May 16. “As the election d-day is approaching closer, markets are rallying on anticipation of a favourable outcome. Investors should continue investing in equities, as this is one of the best times to invest in this asset class,” said Dinesh Thakkar, chairman and managing director, Angel Broking.

 

The Bombay Stock Exchange benchmark Sensex had rallied by over 650 points to breach the crucial 23,000-level for the first time on Friday amid hopes of a stable government assuming power at the Centre. Over the past week, the index gained 2.63 per cent to settle at 22,994.23 on Friday.

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