Counting begins in India's state elections after 154 million voters cast ballots

India is counting votes on Monday, May 4, in one of the year’s biggest election days — five assembly contests spread across West Bengal, Tamil Nadu, Kerala, Assam and Puducherry. The stakes are straightforward. These races decide who runs some of India’s biggest states, and they also double as a read on Prime Minister Narendra Modi’s BJP outside Parliament. But the picture is not perfectly clean. In West Bengal, one constituency — Falta — has been pulled out of the main count after the Election Commission ordered a full repoll there later this month. ### What is being counted today? These are state assembly elections, not a national election. Voters chose legislators in 824 constituencies across four states and one union territory. West Bengal voted in two phases. Tamil Nadu, Kerala, Assam and Puducherry voted in a single phase. Counting starts with postal ballots at 8 a.m., then moves to electronic voting machines in rounds, which is why early leads can swing before final seat tallies settle. ### Why is West Bengal getting most of the attention? Because Bengal is the cleanest high-voltage political test in the bunch. Mamata Banerjee’s Trinamool Congress is trying to hold a state it has dominated for years. The BJP is trying to turn Bengal from a high-profile target into an actual governing win. That makes the stakes a lot. ### What is the Falta problem? Falta, in South 24 Parganas, will not be decided today. The Election Commission scrapped polling there and ordered a fresh vote for all 285 polling stations on May 21, saying the original poll was tainted by severe electoral offences and a breakdown of the democratic process. Counting for that seat is set for May 24. So when Bengal trends start flashing on Monday, remember they cover 293 of 294 seats, not the full assembly. ### How big was turnout? Very high, especially in West Bengal. Recent reporting put Bengal turnout above 92% and Tamil Nadu above 84% in the first released figures. High turnout does not translate neatly into one party’s advantage, but it usually means stronger mobilization, tighter booth-level competition and slower, more contested political storytelling after the fact. Everyone gets to claim momentum until the seat map hardens. ### What about Kerala, Tamil Nadu and Assam? Each has its own local script. Kerala is usually read through the Left-versus-Congress rivalry. Tamil Nadu turns on the Dravidian parties and alliance math. Assam is the BJP’s chance to show its northeastern base still holds. That is why “one India verdict” is the wrong frame here — these are parallel state stories sharing a counting day, not one national referendum. ### Why are investors watching this? Mostly for sentiment, especially around Bengal. Traders are treating the results as a noisy political input for Monday’s market open. But the smarter read is narrower — election headlines can move mood for a session, while crude prices, foreign flows and broader risk appetite usually matter more for where Indian equities go next. In other words, politics can jolt the tape, but it does not automatically rewrite the market trend. ### So what should you actually watch? Watch seat conversion, not early vote-share chatter. Watch whether Bengal looks like a clear TMC hold or a real BJP breach. And watch the caveat — one Bengal seat is unresolved until May 21. By the end of Monday, India should know who won most of these governments. But in the state everyone cares about most, the final map will still have one blank space.