In Gujarat, the BJP is leading in 70 seats whereas in Himachal Pradesh also, the saffron party is set to overthrow Congress and is racing ahead in 39 seats. The apprehensions and expectations from the poll results have impacted the market.
According to the experts, the market was expecting an easy win for BJP in Himachal Pradesh and Gujarat polls.
The elections were held on December 9 and 14, after a deeply acrimonious campaign, which was dominated by a face-off between Prime Minister Narendra Modi and Congress president Rahul Gandhi.
The BJP has won every election since 1995 in the home state of Modi and BJP chief Amit Shah. However, it was out of power for a couple of years due to party infighting and rebellion by Shankersinh Vaghela. BJP came back to power in 1998, and has ruled uninterrupted since then.