Synopsis
While the street has not talked about this much, the fact is that, for a large part of 2024, the election model code of conduct has been in place. These were phases when there was hardly any government spending. The impact of this is now being felt on the ground in the form of slower growth in some sectors. Now that the Maharashtra election is over, spending should be back on track. And given that the result is in line with street expectations, there is a good chance that the bulls will attempt a comeback. A word of caution, though: There are still some global developments – financial and geo-political – which could unsettle the markets.
The market witnessed another bout of volatility last week. The difference though was that the recovery was sharp – and it saw equal participation by the midcap segment as well. The reaction of the street to Maharashtra election results – announced on Saturday – is expected to be positive. So, as we mentioned earlier, there are chances that we will see a determined attempt by the bulls to make a comeback. Any negative development at the
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