Domestic stocks soared today on exit poll euphoria! Buoyed by exit poll predictions of a strong BJP win, investors piled into Indian stocks, sending the Nifty50 above 23,250. PSU banks and energy stocks led the charge, with PSUs particularly happy about the potential for continued reforms. How long this rally lasts depends on the actual election results. A big win could trigger a flood of sidelined cash back into the market, fueled by optimism. In the coming weeks, all eyes will be on the 100 days measures list and final budget for further cues.
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