Poll result, RBI rate decision to navigate market this week

Indices may rally on Monday on exit poll’s predictions

Mumbai: Trading in the equity market will largely depend on two major events this week – general elections result and the RBI interest rate decision – analysts said, adding that the benchmark indices may rally on Monday on exit polls’ prediction of a massive win for the BJP-led NDA and strong GDP data.

Exit polls on Saturday predicted that Prime Minister Narendra Modi will retain power for a third straight term, with the NDA expected to win a big majority in the polls. Counting of votes will take place on June 4.

“All eyes are now on the most significant event of the past five years — the outcome of the Lok Sabha elections, scheduled for Tuesday. Before that, market participants will react to the exit polls on Monday.