This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise.
Separately, the stock market will also deliver its verdict when markets open on Monday.
Nervousness among investors over the results has meant that the India VIX index, the market's so-called fear gauge, has shot up by more than 135% since its April lows.
However, some equity strategists point out that even a landslide victory for Modi's BJP could potentially sour the stock market.
Meanwhile, Gautam Chhaochharia, head of global markets for India at UBS, said foreign investors are in a "wait and watch mode" ahead of India's election results despite economic fundamentals looking "very, very strong."
Persons:
Narendra Modi's, Modi, Bradley Saunders, Saunders, Venugopal Garre, —, Garre, Fitch, SRH, Mark Mobius, Gautam Chhaochharia
Organizations:
Bloomberg, Getty, BJP, Traders, " Bank of America, Capital Economics, Modi's BJP, —, Reuters, Kolkata Knight Riders, IPL, Sunrisers, Knight Riders, CNBC, UBS
Locations:
Delhi, India, Kolkata, Sunrisers Hyderabad