look news india
New Delhi: Assembly elections are to be held in many states of the country this year. Of these, elections have been held in Haryana and Jammu and Kashmir, whereas election dates are yet to be announced in Maharashtra and Delhi. In such a situation, experts believe that a slight majority or defeat of the Bharatiya Janata Party (BJP) in the Haryana and Jammu and Kashmir elections may have an impact on the stock market.
Experts say there are big things to worry about in the stock market, such as the geopolitical situation in the Middle East and its impact on crude oil prices.
Apart from this, the outcome of the US presidential election in November and upcoming domestic corporate results will also decide the direction of the stock market. Apart from this, investors will also keep an eye on the central banks of different countries which will decide on interest rates.
Experts believe the BJP's apparent defeat in state elections – now in Haryana and Jammu and Kashmir, Maharashtra (polls in November) and Delhi (polls in February) – could trigger a temporary reaction. The market has already given indications from the results of Lok Sabha elections.
Except Maharashtra, all other states are small in terms of number of Lok Sabha seats. Therefore, the election results of these states will have less impact on the market. Given the current situation, the focus of the domestic market will be more on how crude oil prices behave due to the ongoing geopolitical tensions in the Middle East.
Among other things that will keep the market worried in the next few days, the geopolitical crisis in West Asia, RBI's decision on interest rates and the impact of corporate results may also keep the market volatile in the short-to-medium term.
Analysts said that from a technical perspective, the Sensex has important support near its 100-day moving average (DMA) of 79,572 levels.