In the three months before the elections, the index has returned 8% on average. The brokerage has excluded years of fractured mandates — 1989 and 1998 — from its study. Banks and energy have been among the best and the most consistent performers in the run-up to the general elections.
“Election years sow seeds of optimism backed by hopes of reforms and a stable mandate,” said IIFL’s Sriram Velayudhan.
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