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State elections and stock markets-Shock for BJP! Congress leads in Madhya Pradesh, Rajasthan, Chhattisgarh; Sensex down by 330 points!

Countdown has begin and all eyes are watching two developed parties Congress and BJP, as today the outcome of assembly elections will be announced.

Ahead of the result, markets have already shown a negative sentiment, as in previous trading session, BSE Sensex cracked below the 35,000 mark to close at 34,959.72. The broader NSE Nifty fell 205.25 points, or 1.92 per cent, to 10,488.45.The benchmark Sensex plummeted 714 points as investors panicked over exit polls suggesting the Congress is giving a tough fight to the ruling BJP in state elections. The bruised rupee and weak global cues also further dampened sentiment. 



Share Market LIVE, Election results Updates:  Sensex opened today at 34,603.72. Before the market opened, all eyes were on the stock market as the counting for five state assembly elections has started today, a day after RBI governor Urjit Patel resigned. Patel's decision to quit as the Governor of the Reserve Bank came as a jolt to investors as it has apparently shaken investors' trust in its autonomy. Analysts warn it will have an impact on the markets. A majority of the voices trickling in said they were shocked by the resignation, which comes amidst a palpable truce between government and RBI.



Possible impact of state election results:

• Madhya Pradesh Results will be the most important and key trigger
• If BJP wins all 3 states: Nifty to go back to 10700-10800 levels
• If BJP wins MP and Chhattisgarh: It is positive and Nifty to touch 10500-10600 again
• If Congress wins all 3 states: Nifty to fall by 250-300 points more, 10000-10050 level possible







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