The Samajwadi party has clearly emerged as the single largest party in the UP elections. The party is however short of majority to form the government on its own. The SP has managed to gain the lead in 193 constituencies, pushing the BSP to the second position, which could score only 100 seats.
The Rahul Gandhi phenomenon has not seemed to be completely in favour of the Congress party, as it could manage 50 constituencies.
The Shiromani Akali Dal led alliance clearly has the lead in the Punjab assembly. The Uttarakhand assembly has shown a close fight with Congress gaining 31 leads while the BJP has been in the second position with 28 leads. BJP has been in the forefront in the Goa assembly, while Congress leads the Manipur state.
Back home in the Dalal street, the markets have been trading volatile in the wake of the election results pouring in. Stock & Sector specific actions are seen in many counters.
The Nifty has however shed the early gains made in the morning, and has slipped into the red.
Auto stocks have fallen to the red. Tata Motors is down by nearly 1%.
Coal India has seen a strong trade.
Sugar stocks, which are expected to behave strongly based on the UP results, have seen some declines.