Exit Poll outcome: Brokerages see market rally in the making

"We see May 23 as a binary event and a decisive majority for the current government (NDA) would be viewed as the better outcome," said Lavina Quadros, Equity analyst at Jefferies.

Markets witnessed a gap-up opening on Monday, a day after most exit polls showed Narendra Modi – led National Democratic Alliance (NDA) return to power for the second time. The S&P BSE Sensex zoomed over 900 points at open to cross the 38,700 levels. The broader Nifty50 index, on the other hand, saw its best opening gain after the 2014 Lok Sabha result and hit 11,694 levels – up nearly 2.5 per cent, or 284 points.

Here’s how leading experts and brokerages have interpreted the results and its likely impact on the markets in the near-to-medium term:

LAVINA QUADROS, EQUITY