Reforms to continue thanks to BJP win in UP; Nifty can hit 12,000 by March 2018

The outcome is beyond market's expectation and will be a sentimental boost

The markets are likely to head higher in the coming week, with the Bharatiya Janata Party (BJP) headed towards a massive win in the key state of Uttar Pradesh (UP). The outcome for polls in Punjab, Uttar Pradesh (UP), Goa, Uttarakhand and Manipur could create distractions (or positives) for the government and will be interpreted as a referendum on the government’s demonetisation drive, analysts say.

The election outcome in UP (the biggest state by population), was being dubbed as the semi–final to the 2019 general elections, and appeared to be heading towards a close fight.

Here’s how market