Markets to celebrate BJP-led Mahayuti's strong victory, Nifty can reclaim 24,000, say experts

The Nifty is expected to move closer to reclaiming the 24,000-mark, say experts

Dalal Street is poised for a strong start on November 25, fueled by the thumping victory of the BJP-led Mahayuti alliance in the Maharashtra Assembly elections. Experts believe that this decisive mandate will not only ensure continuity in economic policies but also instill greater investor confidence. The Nifty is expected to move closer to reclaiming the 24,000-mark, reflecting the positive sentiment.

Deepak Jasani, head of retail research at HDFC Securities, anticipates a strong opening, projecting 1 to 1.5 percent rise in the indices. "Markets are already in a recovery phase, and this victory will further boost sentiment. Nifty could target the 24,400–24,500 levels within the first couple of trading sessions this week," he said, emphasising the potential for immediate gains.

Adding to the optimism, Gaurang Shah, senior vice president at Geojit Financial Services, highlighted the unexpected scale of the Mahayuti alliance's victory, which surpassed exit poll predictions.

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"This majority not only signals political stability but also ensures a green light for pending redevelopment and infrastructure projects. We could see the Sensex rise by 300–400 points as markets give a thumbs-up to the clear mandate," Shah remarked.

At the time of filing the story, trends in the GIFT Nifty turned strong, up over 2 percent at 23,854 levels.

The BJP-led alliance secured over 200 seats in the 288-member Maharashtra Assembly, reaffirming its dominance. While the decision on the Chief Minister remains pending, the oath-taking ceremony is scheduled for November 26. The decisive mandate underscores continuity in governance, a critical factor for investor sentiment.

In contrast, the JMM-led alliance's return to power in Jharkhand, while signaling policy stability, is unlikely to generate the same market enthusiasm. "The market's response to Jharkhand's election results will be subdued compared to Maharashtra, where economic stakes are much higher," noted Vinit Bolinjkar, head of research at Ventura Securities.

The BJP also showcased its strength in the Uttar Pradesh bypolls, winning two seats and leading in five others. The Samajwadi Party, however, held its ground with a lead in two seats.

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