Bihar poll win positive for market, to add stability to Modi govt: JM Financial 

The NDA's landslide win in Bihar Polls is a bog positive for the stock market, according to brokerage JM Financial. "We expect the markets to react positively to this victory, considering that it will add stability to the coalition at the Centre," said the domestic brokerage reacting to the victory of the NDA in the recently concluded Bihar assembly election.

Hours ahead of the Bihar Election result on Friday, Sensex rose 84 points to 84,562 and Nifty ended 31 pts higher at 25,910. The Indian equity market managed to close higher for the fifth straight session last week as exit polls signaled NDA's win in the Assembly Election.

With the five-day rally, the Sensex is up 7.71% and Nifty has gained 9.13% this year.

The National Democratic Alliance (NDA) achieved a decisive victory in the Bihar assembly elections, securing 202 seats, a substantial increase from the 122 seats won in the previous election. This result surpassed most exit poll forecasts, which had predicted 146 seats for the NDA, and underlined a notable shift in Bihar's political dynamics. The JD(U), led by Nitish Kumar, emerged as a significant beneficiary, gaining over 40 seats from the RJD.

The BJP, while becoming the single-largest party with 89 seats, expanded its hold largely at the expense of Congress, which lost 13 seats. The Lok Jan Shakti Party contributed 19 seats to the alliance. The Jan Suraaj Party failed to win any seats in its debut, despite some predictions. The RJD, although the main opposition, secured the highest vote share at 23%, compared with the BJP’s 20%.