MUMBAI/BENGALURU - Indian equities, rupee and bonds are set to rally on Monday after almost all exit polls suggested that the Prime Minister Narendra Modi-led National Democratic Alliance was likely to secure a clear mandate at the 2019 national elections.
Votes are set to be counted on May 23 and exit polls suggest a better showing for the NDA than what was expected in recent weeks. Jagannadham Thunuguntla, senior vice president and head of research at Centrum Wealth Management said the likely “continuation of policies and reforms is an added comfort,” for the markets.
Choudhary said a stable government that helps preserve India’s risk perception would help the Reserve Bank of India respond decisively to the underlying macro dynamic. The partially convertible rupee had closed at 70.22 per dollar on Friday versus its previous close of 70.0350.
Modi coming again that too with a historic margin.
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