Markets might see biggest gains post exit polls

INDIA'S equity market is expected to see one of its biggest gains of recent times this week following the exit poll results which have erased all concerns related to change of power at the centre.

- ARSHAD KHAN

According to market experts, as there are now indications that the Prime Minister-led NDA alliance will win more than 350 seats in the Lok Sabha elections, the bulls are expected to go on a major buying spree on Monday.

Market experts believe the headline indexes will scale to new peaks this week after a choppy streak last week. Sensex and Nifty ended the week down nearly 2% at 73,961 and 22,531 as investors preferred to play safe ahead of the D-Day.

"Exit polls results which indicate a clear victory for the NDA with around 360 seats completely removes the socalled election jitters which have been weighing on markets in May. This comes as a shot in the arm for the bulls who will trigger a big rally in the market on Monday," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.