Indian stocks, rupee rally as Modi vote win predicted

A polling official offers Namaz during the holy month of Ramazan at a distribution centre in Patiala on Saturday

The opposition BJP looks to hold on to its position, but may even throw up a surprise, bagging over 20 seats.In the run-up to the elections, both sides had sounded confident of outdoing the other. Thanks to a weakened Congress, which has been hit by defections to the ruling Telangana Rashtra Samithi (TRS) and also to the BJP, the saffron party is looking to come second in at least a handful of parliamentary seats, apart from winning a few out of the total 17. However, these results may differ from the actual elections results which will be released on May 23, when the counting of votes takes place.

The meeting comes in the backdrop of exit polls which have predicted a return of BJP-led NDA government at the Centre.

Like most pollsters, various "satta bazars" too have stuck to a BJP win in the 2019 Lok Sabha elections but expect the party tally to be fewer than predicted in the exit polls. The launch of the TV channel had stirred huge controversy as opposition parties approached the Election Commission.

Aaj Tak survey predicts BJP's win by 15-19 seats in the coastal state leaving zero seats to BJD this year while Times Now-VMR and Republic TV-Cvoter projections are giving the BJP 12 and 10 seats, respectively, News 24-Today's Chanakya have given BJP 11 seats.

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Indian shares soared 3.75 percent on Monday - the biggest jump in almost six years - as markets greeted exit polls indicating conservative Prime Minister Narendra Modi secured a new term in a general election.

In the 2014 Lok Sabha elections, former BJP union minister Bandaru Dattatreya won the Secunderabad seat.

"These exit polls have given a high level of comfort for investors and the governmental policies initiated in the first term will only gain momentum", said Amar Singh of Angel Broking.



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