Moneycontrol has designed in-house an MC Election Index – an equal-weighted index of 50 stocks that are highly sensitive to outcomes of the 2024 general elections.
The stocks represent themes that have received disproportionate attention of the government so far, like beneficiaries of government-led capex, companies linked to railway capex and defence, PSU lenders, domestic manufacturing-focused companies and some adjacent sectors that are gaining from the overall capex/manufacturing push.
Source:Moneycontrol
In the run-up to elections, in the past six months (1st December 2023 to 31st May 2024), the Election Index, with an absolute return of 59 percent, has outperformed both the leading benchmark indices, Nifty and Nifty 500.
Source: Moneycontrol
While the markets have given a thumbs-up to the exit poll forecast on Monday, June 3, the MC Election Index with a rally of 6 percent has hugely outperformed the Nifty’s gain of over 3 percent today.
Source: Company
Once counting begins on the morning of June 4, all eyes will be on the MC Election Index movement. Stay tuned to Moneycontrol’s election coverage to see if the Election Index sustains its outperformance after the final verdict is out.
Source: Moneycontrol
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