Never Count the Chickens before They Hatch

Apremature celebration can turn triumph into tragedy – a lesson starkly illustrated at the start of this week. The Indian equity market experienced one of its most volatile sessions in recent history due to an unexpected election outcome. Prior to the election results, the exit polls had predicted a decisive victory for the incumbent BJP government, prompting a wave of optimism. As a result, on June 3, 2024, the market saw gains of 3-4 per cent in frontline indices, with the BSE Sensex surpassing the 76,700 mark and Nifty 50 exceeding 23,300, both reaching lifetime highs.