BJP's Historic Third Term In Haryana: Market Sentiment Soars, Nifty Targets 25,600

The BJP is poised for a historic third term in Haryana, surpassing expectations and outperforming polls. Despite the NC-Congress alliance winning the Jammu and Kashmir assembly elections, the BJP still performed better than the polls had predicted there as well. Amar Singh, Senior Vice President of Research at Angel One, explains that state election results like these significantly influence market sentiment, boosting investor confidence. He describes the BJP's win as a "shot in the arm" for the ruling party, alleviating concerns following the Lok Sabha elections. Market expert Raghvendra Singh notes that heavyweight stocks are showing strong volume, signaling a rally that could extend further. He anticipates a one-way market rally continuing until October 20th and predicts the Nifty could reach 25,600 during this period.