UP poll result has made a mockery of the criticism that demonetisation got: Chris Wood

The outcome confirms that the Prime Minister should have a second term in government, Wood says

The markets have given a thumbs-up to the outcome of the recently concluded polls. CHRISTOPHER WOOD, managing director and equity strategist at CLSA tells Puneet Wadhwa that investors should stay put in the Indian equity markets. Edited excerpts:

What are the implications of the assembly poll outcome for the markets and the government's reform agenda?

The outcome of the elections, especially in Uttar Pradesh (UP), is a big positive. It confirms that the Prime Minister should have a second term in government. It also highlights that the incredibly ambitious strategy of demonetisation has paid off from a political standpoint. It is a