The recent election in Karnataka, India, which saw Indian National Congress emerge as a clear winner, is expected to have little impact on domestic stock markets as much of the outcome had already been factored in by investors, according to analysts. The Nifty index was up 0.79% for the week and fared well despite the upcoming general elections in 2024. While experts point to a possibility of some profit taking, a break above the key resistance level of 18,440 could lead to further gains, potentially reaching the 18,630 – 18,690 range.