Exit polls following the conclusion of India's general election indicate a significant lead for Prime Minister Narendra Modi's Bharatiya Janata Party (BJP)-led alliance.
The projections suggest a potential two-thirds majority in the lower house of parliament, fueling anticipation of market optimism when trading resumes.
According to prominent TV exit polls, the ruling National Democratic Alliance (NDA), led by the BJP, is expected to secure between 353 and 401 seats in the 543-member lower house. This forecast exceeds earlier expectations and could empower the government to enact substantial constitutional amendments.
The projections are poised to boost financial markets on Monday, with market analysts anticipating a positive response to the exit poll results. Modi's BJP, which clinched 303 seats in the 2019 election, is anticipated to surpass this figure according to three of the five major exit polls.
In contrast, the opposition "INDIA" alliance, led by Rahul Gandhi's Congress party, is projected to secure between 125 and 182 seats. While exit polls have historically been inconsistent in India, they offer a glimpse into the potential outcome of the election.
Addressing the exit poll results, Modi expressed confidence in the NDA's victory, emphasizing a record voter turnout in support of his government. He criticized the opposition alliance, accusing them of divisive tactics and corruption.
Meanwhile, the opposition has dismissed the exit polls as biased and predetermined. Supriya Shrinate, the Congress's social media head, labeled the polls as "government exit polls," asserting confidence in their own projected seat count.
Market analysts view the exit poll results as lifting uncertainty surrounding the election outcome, signaling continuity in Modi's economic policies. Anticipation of a strong NDA victory is expected to trigger a market rally on Monday, bolstering investor confidence.
