India Election results: key takeaways so far
Key takeaways from what trends/results available so far: The 3-1 results (as appear likely now) are primarily against the ruling Congress party and one expects markets to adequately cheer the results on Monday. Frankly, a 4-0 was very optimistic. But a 3-1 also is a good indication (for now) of the UPA losing and NDA securing at least a simple majority in 2014. The emergence of AAP is more a reflection of the common man’s anger with the Congress rather than emergence of a NaMo wave. A wake up call for BJP, in terms of Chattisgarh as they can not take things lightly and need to constantly be on guard against complacency and deviations from development agenda. The winter session may see much efforts by the UPA to bludgeon through controversial bills in a last ditch effort to woo a single “minority” segment and the economically marginalized. This may prove to be a dampener for the markets and may result in a volatile ride in the near term. Finally, the success of the deb...