Mumbai: Indian markets will move further ahead if the exit polls prove right, but investors must still be cautious till 23 May as exit polls have a mixed record, said various brokerage firms. "Exit polls have a mixed record, so the real deal is still 23 May when the actual results will be available," Morgan Stanley said. On a similar note, HSBC said that the past polls have had a patchy record, and the Uttar Pradesh outcome remain uncertain. Nomura said that the exit polls suggest a better-than-expected result for the NDA, but near-term growth risks remain. "Do not foresee a major reversal of the current (weak) economic conditions in the short-term," the brokerage said.

Source: Mint May 21, 2019 05:26 UTC