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The Mahayuti alliance led by Bharatiya Janata Party (BJP) scoring an emphatic victory, is expected to trigger a rally on the D-Street when markets resume trading on Monday. A larger mandate for the incumbent government will not only boost investor confidence but is also a testimony that people in general are happy with the economic policies and that there will be continuity, said market experts.The BJP led alliance crossed the 200 mark out of the 288 Maharashtra assembly seats which went to polling. While the alliance is yet to take a call on who the CM will be this time around, the mood was upbeat. The new chief minister is set to take oath on November 26, Tuesday. The stability In Maharashtra could trigger a rally in the stock market, boosting investor confidence especially in infrastructure, urban development and manufacturing sectors which are aligned with BJP policies, said Palka Arora Chopra, Director of Master Capital Services Ltd.Meanwhile, the JMM-led alliance’s expected return to power in Jharkhand, suggests continuity in social welfare policies, Arora said, while conceding that Jharkhand's results could not offer the same level of market enthusiasm as Maharashtra.The election results indicate that not only the majority has been retained but with a much wider mandate, which indicates that the people in general are happy with the economic policies and there will be continuity in policy, expert Sandip Sabharwal said. "Maharashtra being the second largest state in the country, a mandate like this from here also reinforces the entire growth story of the country. So, I would think that it would be taken positively and it has come at a time when markets are not at all-time high," he added.Echoing a similar sentiment, Santosh Meena, Head of Research, Swastika Investmart said that Maharashtra, where NDA witnessed one sided victory is likely to boost bullish sentiments, further though global factors will continue to pose significant risks.Expert Ajay Bagga sees an immediate impact of results and not a very lasting one. On the ramifications of the results, Bagga said that there will be a continuity of policy in a state which is having $470 billion of GSDP. "It (Maharashtra) is an important state for India. It houses the commercial capital as well," he added."The results will have a positive impact on foreign investors who look at political stability at the centre because a coalition alliance has won one of the major seats. So, the Modi government has proved its credentials in leading a coalition alliance to victory, and that helps strengthen the credentials of his central government for the next five years. So, foreign investors would be looking at this as a boost of confidence in the Indian central government as well," Bagga told ET Now.Meanwhile, in UP assembly bypolls, BJP won two seats while maintaining a lead in five others. Samajwadi Party was leading in two seats at the time of filing the story.Decoding charts, Meena said that Nifty has found strong support at 23,200, which aligns with the 61.8% retracement of its previous rally from the election-day low of 21,281 to the high of 26,277. The index reclaimed its 200-DMA with a bullish harami candlestick formation, signaling a potential trend reversal, he added."Immediate resistance is at the 20-DMA of 24,030, and a breakout above this level could push Nifty toward 24,550/25000 levels. On the downside, 23,500, near the 200-DMA, remains a critical support level. Similarly, Bank Nifty has held firm at its 200-DMA, with immediate resistance at 51,300–52,000 and a higher resistance zone at 52,600–53,300," this analyst said.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Foreign Portfolio Investors (FPIs) continued their selling spree in November as well, off-loading domestic equities worth Rs 26,533 crore so far in this month. The total sell-off by them now stands at Rs 19,940 crore in 2024 versus Rs 1,00,245 crore at the end of September.In October, FPIs sold shares worth Rs 94,017 crore after a September purchase, where FPIs bought domestic equities worth Rs 57,724 crore. While in August, they had purchased shares worth Rs 7,322 crore which was down month-on-month from July when the total buying figures stood at Rs 32,359 crore. In June, they were net buyers at Rs 26,565 crore after remaining net sellers in April and May when they sold equities worth Rs 8,671 crore and Rs 25,586 crore respectively. In February and March they were net buyers at Rs 1,539 crore and Rs 35,098 crore after starting the year on a negative note in January when they offloaded shares worth Rs 25,744 crore. On Friday, the foreign institutional investors (FIIs) were net sellers at Rs 1,278.37 crore while the domestic institutional investors (DIIs) were net buyers at Rs 1,722.15 crore.Commenting on the current FPI trends, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services attributed three main factors behind the ongoing selling by FIIs. "One is the ‘Sell India, Buy China’ trade. Two, the concerns surrounding FY25 earnings and three is the ‘Trump trade.’ Of the three, the ‘Sell India, Buy China’ trade is over. The Trump trade also appears to be on its last leg since valuations have reached high levels in the US," he added.In his view, the FII selling in India is likely to taper off soon given the valuations of largecap stocks coming down from the earlier elevated levels. "FIIs have been buying IT stocks and this has been imparting resilience to IT stocks. Banking stocks have been resilient despite FII selling, mainly due to DII buying," Vijayakumar added. Also Read: Adani Bribery Case: Here are 5 setbacks that followed post indictment(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)