Karnataka election result: Did anything change for stock market investors after BJP’s loss?

Despite BJP’s loss in the Karnataka Assembly election, Nifty crossed 18,400 and Nifty Bank reached near an all-time high. Experts suggest that the result would not affect the 2024 Lok Sabha elections. The analysis of seven state elections of 2018/19 reveals that national parties gain substantial vote share in national elections versus state elections. Analysts expect the government to turn populist over the next 12 months, and consumer staples are expected to benefit from this shift. They advise a long-term overweight call on industry and banks.