Markets and UP polls

'Satta' markets had more precise information on whom the voters were backing than the exit polls

Mumbai stock brokers were celebrating a Bharatiya Janata Party victory in Uttar Pradesh even before the results of the Assembly polls were announced officially. For all practical purposes, the informal “satta” markets had more precise information on whom the voters were backing than what the various exit polls and the journalists could offer. Insiders say brokers have their own network of sub-brokers and investors who give them first-hand information on what’s happening on the ground — politically or otherwise. Based on that information brokers invest millions of dollars in the markets.