Markets are discounting BJP victory in Gujarat elections

Between now and the general elections (likely in May 2019) there are 12 assembly polls, which analysts say, in a way will also be interpreted as a referendum on the Modi-led government's key reforms

With the Election Commission (EC) calling elections in Gujarat, analysts believe political considerations are likely to play a more dominant role in driving economic decisions. Markets at current levels, though are pricing in a BJP victory to some extent, they are likely to trade sideways till the final outcome is known.

Between now and the general elections (likely in May 2019) there are 12 assembly polls, which analysts say, in a way will also be interpreted as a referendum on the Modi-led government's two key reforms - the note ban drive and goods and services tax (GST) implementation.

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