Earnings could be heading into a new cycle and domestic flows should return with strength.
By 0710 GMT, the pan-European STOXX 600 had dropped 0.8 per cent.
The sector has its own battles to fight – which are more regulatory, global and endemic in nature.
Experts hope for no more disruptions as seen in NDA-1
"You can’t have slowdown in country like India for a longer time,” Jhunjhunwala said.
Select companies are likely to see earnings' upgrade in the range of 10-30 per cent for the next two fiscals.
The Nifty Bank index was trading 2.22 per cent up at 31,204.90 around 11:13 am.
Domestic benchmark index NSE Nifty was trading 141.75 points up at 11,879.65.
Early trends in vote count suggested the results could be in line with exit poll projections.
Among the 50 stocks in the Nifty index, 48 were trading in the green, while 2 were in the red.
Analysts said volatility will rule the roost on Dalal Street through the day.
The Nifty Auto index was trading 1.06 per cent up at 8334 around 09:56 am.