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Standard Chartered analysts point out that India is headed for national elections in April-May 2019, while the results will be announced on 23 May and is going to be the key event for the markets.

Key Quotes

“Markets to watch closely if incumbent BJP is voted back into power and, if so, with what majority.”

“Consensus is that BJP will be voted back in, but that a lack of absolute majority will result in a coalition government.”

“Economic issues like lack of jobs, geopolitical developments, alliances between regional parties to dominate election outcome.”

“Margin of error for opinion/exit polls has increased, creating uncertainty around the election outcome.”