India’s stock market’s performance during last 5 state assembly elections:4 out of 5 times, Sensex generated handsome returns

India’s stock market rose abruptly on Wednesday, 12 November 2025, after exit polls data on Bihar Legislative Assembly General Elections 2025 showed that the National Democratic Alliance (NDA) was all set to retain power in the state. Sensex settled 595 points higher at 84,466.51 points. Similarly, Nifty closed 0.70% higher at 25,875.80 points. There is a perception that stock markets usually rise whenever there is anticipation that the Bharatiya Janata Party would form government in any state. And, the market’s reaction after Bihar exit polls reinforced this perception. Sensex settled 595 points higher at 84,466.51 points on Wednesday, 12 November 2025. Similarly, Nifty closed 0.70% higher at 25,875.80 points. Lets see how India’s stock market performed over the last five state assembly elections in India: During the Delhi 2025 assembly election, the Indian benchmarks had largely declined. The counting day was 8 February 2025 which was a Saturday. On anticipation of the results, indices had closed in red a day before on 7 February. Additionally, the barometers had fallen on the next working day on 10 February as well. The 30-share Sensex had depleted by more than 500 points. The Maharashtra 2024 legislative assembly election was held on 20 November 2024. While, the polling day for Jharkhand elections was 13 November 2024. The counting day for both the states was 23 November (which was also a Saturday.) On the next working day on 25 November, Sensex had shot up 992 points. The Indian stock markets during the conduct of the Maharashtra Jharkhand elections was largely down but on the counting day the indices shot up abruptly. The Haryana 2024 legislative assembly election was held on 5 October 2024. While, the polling day for Jammu and Kashmir elections was 18 September 2024. The counting day for both the regions was 8 October 2024, on which Sensex had shot up 584 points. Well! The conviction that markets ascend if BJP forms government in a state is not always true!