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D-Street fear index India VIX fell 22% to the day's low of 19.12 on Monday after a screaming call by exit polls suggesting the return of the incumbent Bharatiya Janata Party (BJP) led NDA government. At 1:20 pm India Vix stood at 20.21, down by 17.85% from 24.60 on Friday.According to the average of 12 exit polls, NDA is seen as winning 367 seats this time, improving its 353 count in the 2019 elections. Even the lowest forecast is that of 316 seats. While the NDA may fall short of its ambitious 'Abki Baar 400 Paar' target, traders see Nifty going beyond 24,000 this week. While exit polls are estimates given by pollsters, actual results will be announced on Tuesday."The markets are riding a wave of optimism, propelled by the exit polls suggesting a decisive win for the NDA government, reflecting the sentiment driving the surge to an all-time high of 23,122," Suman Bannerjee, CIO, Hedonova said.The rally is likely to sustain if the NDA wins while any surprises might trigger volatility, Bannerjee cautioned.Sahaj Agarwal, Head of Derivatives Research at Kotak Securities expects a reduction in volatility, which in market parlance is called "volatility crush". Typically, a market-impacting event leads to an irrational increase in implied volatilities (IVs) of options which primarily occurs due to the fear and uncertainty surrounding the event's outcome, he reasoned."High implied volatilities are attractive for option sellers and provide momentum for option buyers. The transition back to a low IV regime is often drastic, making risk management crucial. As the event progresses and certainty sets in, IVs collapse and return to normal levels," Agarwal said.India VIX's 52-week low stands at 8.20 and peaked to the 52-week high of 26.20 in the run-up to the final phase of polling and exit polls on June 1."The previous 15-month average for India VIX is observed at 13-15. Therefore, expect an IV crash and a sudden drop in options premiums, along with the impact of the underlying movement, referred to as delta," Agrawal opined.After the exit polls, it was expected that when markets resume trading on Monday, bulls will be unleashed. Headline index Nifty hit a fresh lifetime high of 23,338.70 gaining over 800 points while the S&P BSE Sensex soared by 2,778 scaling a new peak of 76,738.89.Also Read: Exit Poll impact on D-Street! Religare Broking expert tells what to do with Naukri, DMart and 4 other stocks?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

The two-wheeler sales in India experienced a marginal decline in May as compared to the same period in the previous year. The major two-wheeler manufacturers of the country reported a decrease in sales numbers, reflecting a broader trend in the industry.Market leader Hero MotoCorp, sold 498,123 units in May 2024, marking a decrease from the 519,474 units sold in May 2023. This decline was observed in both the scooter and motorcycle segments.Specifically, Hero MotoCorp's scooter sales fell to 26,937 units in May 2024, down from 30,138 units in May 2023. Motorcycle sales also saw a decline, with 471,186 units sold in May 2024 compared to 489,336 units in May 2023.Bajaj Auto, another player in the two-wheeler market, also registered a decline in sales. In May 2024, Bajaj Auto's total two-wheeler sales stood at 305,482 units, a slight drop of 1 per cent from the 307,696 units sold in May 2023. This marginal decline highlights the competitive pressures and market conditions affecting the two-wheeler segment.Eicher Motors, the parent company of Royal Enfield, also reported a decrease in motorcycle sales. In May 2024, the company sold 71,010 units, which is 8 per cent lower than the 77,461 units sold in May 2023.Despite this decline in domestic sales, all three have reported growth in exports. Eicher Motors exports grew by 12 per cent, with 7,479 units sold in May 2024 compared to 6,666 units in May 2023. This increase in exports highlights international demand for Royal Enfield motorcycles.Bajaj Auto registered a 4 per cent growth in exports from 1,12,885 units in May 2023 to 1,17,142 units in May 2024.Hero Moto Corp exports were up from 11,165 units in May 2023 to 18,673 units in May 2024.The manufacturers are navigating the declines in sales through various strategies such as introducing new models, enhancing distribution networks, and focusing on export markets. With good monsoon predicted by the Indian Metrological Department, sales of two-wheelers may go up in the coming months.

Led apparently by heavy short-covering by FIIs, Nifty zoomed around 3% and Sensex shot up to 2,778 points on Monday morning after exit polls surprised the stock market by predicting a landslide victory for NDA. "Aayega To Modi" slogan became an investing strategy as traders were seen buying Prime Minister Narendra Modi's favourite PSUs lock, stock and barrel.Dalal Street's fear index India VIX also slumped 20% as all sectoral indices were swamped in a flood of green."If the Lok Sabha results on 4th June materialize as per the Exit Poll direction, our country will likely enter a “Golden Phase” of political stability and policy continuity. The Indian economy is in a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy. With this expectation of political stability and policy continuity, the prospects of the Indian economy appear notably brighter and more promising in the upcoming years," said Neeraj Chadawar of Axis Securities.According to the average of 12 exit polls, NDA is seen as winning 367 seats this time, improving its 353 count in the 2019 elections. Even the lowest forecast is that of 316 seats. While the NDA may fall short of its ambitious 'Abki Baar 400 Paar' target, traders see Nifty going beyond 24,000 this week.Also read | 'Aayega To Modi' becomes new ATM strategy for stock investors before election resultNomura has set the December 2024 Nifty target at 24,860, based on 20x. Brokerages are constructive on domestic sectors with stocks related to manufacturing and capex being on top of their list.Here are top election stock ideas from brokerages:Motilal OswalOur model portfolio remains aligned with the key domestic cyclical themes amid a consistent backdrop of earnings growth. We remain overweight on financials, consumption, industrials, and real estate. Industrials, consumer discretionary, real estate, and PSU banks are our key preferred investment themes.Top ideas: ICICI Bank, SBI, L&T, Coal India, M&M, Adani Ports, ABB, HPCL, Hindalco, Indian Hotels, Godrej Properties, Global Health, KEI Industries, PNB Housing, Cello World, and Kirloskar Oil.CLSAONGC, NTPC, NHPC, SBI, Power Finance, IGL, and Mahanagar Gas in the PSU space. Of the non-PSU Modi stocks, CLSA analysts like Ashok Leyland, Ultratech, L&T, and the tariff-hike-linked telecom stocks via Bharti Airtel, Indus Towers and Reliance.NomuraOur top picks in India are SBI, ICICI Bank, GCPL, M&M, BHEL, Reliance Industries and Bharti Airtel. In midcaps, we like Federal Bank, Voltas, Lupin, Medplus, InfoEdge and Uno Minda.Axis CapitalSBI, Bank of Baroda, REC, NTPC, JSW Energy, Suzlon, RVNL, J Kumar Infra, and Hindustan Aeronautics are brokerage's top picks.SharekhanTop Picks: ICICI Bank, IndusInd Bank, M&M, Escorts, Hero MotoCorp, L&T, PNC Infratech, Adani Ports, ABB, Siemens, Thermax, Cummins, Kirloskar Engines, BHEL, HAL, BEL, Mazgaon Dock, Cochin Shipyard, BEML, UltraTech, JK Lakshmi Cement, SBI, Bank of Baroda, Bank of India, PNB, DLF, Sunteck Realty, Arvind Smartspaces, BPCL, HPCL, Coal India, NTPC, PFC.Phillip CapitalTop Picks: SBI, BOB, Canara Bk, PFC, REC, Shriram Finance, Muthoot Finance, UltraTech, Siemens, Hero MotoCorp, TVS Motor, Divi's Labs, Syngene, APL Apollo, Jindal SAW, IGL, Aarti Industries, Vinati Organics, Praj, Gokaldas Export, SP Apparel.Prabhudas LilladherTop Picks: L&T, Adani Port, Siemens, ABB, Carborundum, Schneider, Esab, Ingersoll Rand, Kirloskar Pneumatic, HAL, BEL, BDL, BEML, Mazagon Dock, Cochin Shipyard, Ultratech, Ambuja Cement, RIL, Sterling Wilson, Waaree, L&T, Praj Industries, JSPL, JSL, SBI, BoB, Canara Bank, Union Bank, PNB, Polycab, RR Kabel. Dixon, Amber, Keynes and Syrma (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)