Sensex slumps 983 points eyeing poll results
April 30, 2021
India’s weight in Asia Pacific portfolio to rise: Christopher Wood
The results of five State elections that will be declared on Sunday will act as the next big trigger for India’s stock market in the coming week. After a sharp recovery from the lows of last week, the Sensex and the Nifty declined 2 per cent and 1.77 per cent respectively, on Friday. The Nifty after touching the 15,000-mark closed at 14,631 and was down by 263 points. The BSE Sensex fell 983 points to 48,782. After polling came to a close in West Bengal on Thursday, exit polls predicted that both the BJP and the TMC were running neck and neck. In Puducherry and Assam too, the BJP is the favourite.
Jefferies’ Chris Wood says that the GREED & fear’s macro pair trade for 2021, namely shorting the 10-year Treasury and going long the Chinese ten-year, is so far off to a good start.