How Will Stock Markets React Post-2024 Lok Sabha Election? JM Financial Decodes

All eyes are now on the 2024 Lok Sabha election outcome. According to a report by JM Financial, small and mid-cap stocks outperformed large-cap shares post results in every timeframe in past cycles. At present, Nifty is trading at 20 times forward PE, closer to one standard deviation from the long-term mean, which JM Financial considers reasonable. What's next?