More upside in markets if poll results in line with expectations: CLSA

Foreign brokerage CLSA said on Friday that the market will continue to see an upside if election results are in line with expectations.

Most opinion polls have indicated that the BJP-led NDA will retain power in the ongoing elections.  

“Equity markets already factor in this possibility partially, as reflected in improved foreign and domestic flows,” said the brokerage.

Benchmark indices have rebounded 11 per cent from 2019 lows to scale new lifetime highs on the back of $9 billion of foreign inflows. The Sensex and Nifty on Thursday touched new record highs on intra-day basis, however, the indices gave up