The results of the election may not be expected, and the Indian stock bond exchange market has encountered three kills.
As of press time, the Indian Sensex Index once plummeted by more than 5%, and the stock price of Indian state -owned enterprises plummeted.
The stock price of the National Bank of India fell as high as 15%, the Indian National Thermal Electric Corporation fell 15%, Barlate Electronics fell by 20%, Indian Power Grid Power Grid fell 15%, non -silver financial companies PFC fell 20%, Indian coal company COAL India fell down15%.The BSE PSU index tracked by state -owned enterprises fell as high as 14%.
The Indian VIX panic index jumped 34%, the largest single -day increase since February 2022.
After the Indian Rs Rsitaries rose in the previous trading day, the largest decline in 10 months.
The yield of 10 -year Treasury bonds in India rose 1.37%to 7.042%.
In the domestic ETF market, the Indian Fund LOF (164824) plummeted 2.5%, with the latest net value of 1522, with a turnover of 595 million yuan.
The market has risenSurat Stock?
Today, Indian elections have begun.The previous polls announced that the current Prime Minister Modi will win with an overwhelming advantage, and the seats will reach 350 to 400.
Under this expectation, the Indian stock market rose sharply yesterday, the Nifty Index hit the largest increase in three years, and rupees also the biggest increase in this year.
Earlier today, the Indian TV channel showed that in early votes, the Modi party obtained nearly 300 seats among 543 election seats. Despite the majority of seats, this number is far lower than the overwhelmingness of poll forecasts.Advantage.This has led to the fall of the Indian capital market.
It should be noted that the TV channel reported that only about 10%-15%of the votes were counted at that time.
At present, the market has basically priced the Modi election to win. The current tap point is how big the winning advantage is.
Some analysts believe that the financial market has digested the expectations of Modi's re -election, and the rebound on Monday is a bit overly.
FINTREKK CAPITAL's chief investment officer Amit Kumar Gupta said: "The market is expected to win 400 seats by the Indian People's Party led by the People's Party., Until (the party) leading position is firm. "
Researcher Siddhartha Khemka said:
"If the National Democratic Alliance (NDA) gets 330-340 seats, the market will be very happy, but the current results are obviously lower than the comfort level of the market, which is the reason for some panic and concerns." "To be honest, these trendsThe market is not hoped to have split parliament in the early days, because that will cause many decisions to delay. "
In addition, after the early rise, the valuation of the Indian stock market is no longer low.According to Bloomberg data, Indian stocks are expected to have a price -earnings ratio of more than one standard deviation higher than the average level of ten years.
Sameer Kalra, the founder of Target Investing, said: "The market value of the Indian stock market to GDP reaches 140%. If there are some uncertainty in future policy measures, major adjustments may occur."
What does the election result mean?
In the influence, analysts believe that the results of India's election will be related to the next implementation of Indian reform.
Madhavi Arora, chief economist of Emky Global, believes: "The winning range may determine the next stage of land, labor and capital reform. The upcoming budget will become more important, especially in the combination of capital expenditure and income."
Gaurav Dua, the strategic director of the capital market of Sharekhan, believes that if Modi's competitive party wins, they may hinder Modi's implementation of structural reforms.Kolkata Investment
In yesterday's article, we analyzed the Indian capital market in recent times, and India's economic growth is still strong. In addition, the Modi election has won a foregone conclusion, and India will continue to implement reform in the future.
Therefore, in the long run, analysts are still very optimistic about the Indian market.
Federated Hermes's investment manager Vivek Bhutoria said: "India is developing a policy to attract investment. Over time, the re -adjustment of the global supply chain will benefit India. We have begun to see the benefits of electronic products and chemical exports."
Balfour Capital chief investment officer Steve Lawrence believes that India's investment focus is infrastructure: roads and electricity.
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