Elections 2019: How BJP's impending victory has surprised even the bulls

The opposition United Progressive Alliance, led by Rahul Gandhi's Congress party, was leading in 111 seats.

Lok Sabha Election Results 2019 : Prime Minister Narendra Modi’s BJP was set for a historic victory as India counted hundreds of millions of votes from its general election on Thursday.

The National Democratic Alliance (NDA), led by Bharatiya Janata Party (BJP), was ahead in 324 seats, broadcaster NDTV said.

ALSO READ: Election result LIVE: Modi set for 2nd term, see-saw battle in Amethi

The opposition United Progressive Alliance, led by Rahul Gandhi-led Congress party, was leading in 111 seats.

Indian stock markets surged ahead of a possible Modi win.

At 0525 GMT, the broader NSE index was up 2% for the day. The rupee was trading at 69.5 to the dollar, stronger than the 69.67 close on Wednesday.

COMMENTARY

JAGANNADHAM THUNUGUNTLA, RESEARCH HEAD, CENTRUM WEALTH, MUMBAI

“The thumping victory for BJP as per the early trends surpassing its winning tally of 2014 has pleasantly surprised even the bulls ... the continuation of policies and reforms is an added comfort ... the narrative should come back to employment, economy and earnings.”

SACHIN SHAH, FUND MANAGER, EMKAY INVESTMENT MANAGERS, MUMBAI

“At a time when there is uncertainty over economic growth, political stability and continuity allow an economy to progress and rise above hurdles over a period of time. So this outcome offers hope that policy reforms will go in the right direction.”

R. SIVAKUMAR, HEAD OF FIXED INCOME, AXIS MUTUAL FUND, MUMBAI

“Investors globally are positive when there is stability in any country. For global investors, political stability and continuity is an important factor while taking a view on investing in any country. This will keep India on the radar of global equity investors.”Buisness Standard

Election result LIVE: BJP leading in 294 seats, may get majority on its own

Lok Sabha election results 2019 LIVE updates: Counting of votes is underway and will continue throughout the day. Track LIVE updates on General Election results

LIVE Election results 2019: Counting of votes to decide the fate of 8,049 candidates is underway. Going by the early leads, Prime Minister Narendra Modi's BJP has crossed the halfway mark on its own.

The NDA is ahead in more than 300 seats. The BJP is doing well in most states, including the three heartland states of Rajasthan, Madhya Pradesh and Chhattisgarh, wrested by the Congress in December.

It is also ahead in Karnataka and Delhi. The Congress is ahead in Punjab and Tamil Nadu, where it joined hands with the DMK.

Congress president Rahul Gandhi is trailing in Amethi, a seat Congress has not lost in the last three decades, except in 1998.

It will be a huge boost for the BJP if its candidate Smriti Irani registers a win against the Congress chief. Gandhi is also contesting from Kerala's Wayanand, where he is leading.

Elections were held on 542 of the 543 Lok Sabha seats and a party or alliance needs 272 seats to form government.

The BJP is leading on all 26 Lok Sabha seats in Gujarat, home state of Prime Minister Narendra Modi and BJP president Amit Shah, as per trends available so far.

Shah is leading by over 1,30,000 votes in Gandhinagar at the end of second round of counting.

His party's candidate Mansukh Vasava is ahead of Congress's Sherkhan Pathan in Bharuch by over 33,500 votes.

Business Standard