Satta Bazaar bets on BJP majority ahead of election results

The stock market opened positively on Friday, May 31, after five consecutive days of decline, as investors await the outcome of the final phase of the seven-phase Lok Sabha elections on June 1. With results expected on June 4, market dynamics and the economic policies for the next five years hinge on the election outcome, keeping millions of investors on high alert. The Sensex rose by 0.44% to 74,208.53, while the NSE Nifty increased by 0.35% to 22,568.10. Market experts predict significant reactions depending on whether the BJP and its allies secure a majority or if an opposition-led coalition emerges victorious.

Data from the 2019 elections shows that the BJP-led coalition won 352 out of 543 seats. Current market speculations suggest that if the BJP secures a higher number of seats, equity markets could rally by 4-5%, and the rupee may appreciate. Conversely, if the BJP forms the government with fewer seats, short-term volatility is expected. An opposition-led coalition victory could trigger market turbulence and investor sell-offs. The shadow betting market, Satta Bazaar, predicts the BJP might win around 290 seats, with the NDA securing 340-350 seats, and Congress around 50-51 seats.