Market direction to depend on steps taken to accelerate growth: Nilesh Shah

Changing the orbit of Indian GDP growth from current 7 per cent to a higher level is what markets are expecting from the new government

The removal of political uncertainty is always welcome from a market point of view. Today's mandate shows the maturity of voters in choosing a stable government. Now, with the uncertainty behind, the market will focus on steps taken by the government to encourage investment and give a push to consumption, which is hitting a soft patch. 

The market is looking at the second term of 'Modi Sarkar' to build on the foundation laid in the last term. India has good macro indicators, including low inflation, better tax compliance, fiscal prudence, high FDI and a manageable current account deficit if oil remains