“The markets are forward looking & had discounted the anti incumbency wave in the Hindi heartland. The results of MP & Rajasthan being so close are +ve for the BJP.
In the end we are 4 months away from the general elections where the call is Modi magic will work. On the other hand the RBI Governor resignation also saw a knee-jerk reaction being bought into solely for the reason that the new Governor would be more communicative, responsive & will have serious interaction to improve the monitory outlook which was grappling for tight liquidity after the shadow bank problems of IL&FS.
With crude in a falling market money on the sidelines would use opportunities like today to enter Indian stocks with a slightly longer term view as buy,” Sanjiv Bhasin, executive vice president, markets and corporate affairs, at IIFL told Moneycontrol.