Nifty can slip up to 15% if Narendra Modi-led NDA fails to form govt: UBS

UBS expects the Nifty to move up 5-10%, crossing their upside (and recent peak) scenario of 11,800 in case the BJP gets a single-party majority

As the 2019 Lok Sabha elections enter their final lap, with polling for only one of the seven seven phases left, all eyes are now on the outcome, which will be known on May 23. This uncertainty, coupled with other global developments, has kept the markets volatile in the past few sessions.

A recent report co-authored by Gautam Chhaochharia, the UBS head of India research, along with Dipojjal Saha and Rohit Arora, expects the Nifty to slip 10-15 per cent if the Narendra Modi-led National Democratic Alliance (NDA) fails to form the government at the Centre. The projection is based on