Equity markets in India will fall if Prime Minister Narendra Modi’s get together fails to retain energy in nationwide elections due subsequent 12 months, in keeping with Chris Wood, the worldwide head of fairness technique at Jefferies LLC.

If the ruling Bharatiya Janata Party faces a shock defeat within the nationwide polls, as occurred in 2004, “then I would expect a 25% correction if not more,” Wood mentioned at an business occasion organized by the Business Standard newspaper in Mumbai.