Given the relatively poor turnout in Mumbai, one wonders if there was any sense in keeping the market closed. The movement of the market will be dictated more by global cues which are not encouraging for now. Ukraine witnessed an escalation in tensions following the killing five pro-Russian militants and Russia responded with new military drills near the border.
After closing at new highs on Wednesday, the opening is set to be flat and the main indices could slip into the red. US stocks pared their gains. Asian markets too are mostly lower. The rupee movement will also be eyed. The Indian Meteorological Department's (IMD) first monsoon forecast predicted mostly below-average rains in much of South Asia, including India.
Back to the elections, Maharashtra saw low voter turnout, while there was higher voting in West Bengal where 81.4% polling was recorded till 6pm in the six constituencies. Mumbai was behind in the polling race with just 53% voter turnout till 6pm in the six constituencies, while Maharashtra had 55% voters turnout.
Results preview: Maruti Rev Rs126.2bn (-5.2% yoy), PAT Rs9.6bn (-22.4% yoy)