InCred warns of near-term correction in Indian markets if NDA loses Bihar elections
India's benchmark indexes, Nifty 50 .NSEI and Sensex .BSESN, rise 0.7% each on Wednesday, supported by easing trade worries, growing U.S. rate-cut bets
Exit polls predicting a win for the ruling alliance in Bihar state that includes Prime Minister Narendra Modi's party also boost market sentiment, analysts say; results due Friday, November 14
Such polls have proven unreliable in the recent past, including after last year's general election that super-charged market volatility
InCred Equities warns a 3%–6% swing among young and backward class voters across 100 seats could cost the National Democratic Alliance up to 60 seats
Adds that an NDA defeat could trigger a brief market correction of 5-7% in the Nifty, along with high volatility and short-term foreign outflows as investors reprice India's "stability premium"
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