FEVIN-RAJ 61 Report post Posted May 18, 2009 Equities were frozen at the upper circuit at open on Monday in reaction to UPA’s phenomenal win at the general elections. All sectoral indices surged with banking spearheading the rally. Trading has been halted for 2 hour Bombay Stock Exchange’s Sensex opened 10.73 per cent or 1305.97 points higher at 13479.39 points to 12011.10. National Stock Exchange’s Nifty was locked at 4203.30, higher by 14.48 per cent or 531.65 points. Dinesh Thakkar, CMD, Angel Broking said, “The election results have come as a positive surprise and are expected to go down well with the markets considering that markets like continuity of government policies, mindsets and ideologies. The UPA’s 250+ tally has managed to beat the most optimistic political analyst on the street and this ‘thumping’ victory has set the stage for the Congress led UPA to come back to power. Further, the possibility that the UPA could form the government without the Left will further soothe investors’ nerves. The markets are expected to rally as fresh money from FIIs and those waiting on the sidelines on account of the political uncertainty, makes its way into Indian stockmarkets. Investors must remain ‘long’ on India to take advantage of the long-term wealth creation opportunities that Indian stockmarkets have to offer.” Share this post Link to post Share on other sites
Sadikk 301 Report post Posted May 18, 2009 I see, Nothing big has happened or changed from 15th to 18th may... Markets react first at any news.... i dont see major gains from here in next 6 months...... market is already expensive... so still sitting on cash is best policy........ Remember - Its time for fear when everyone is greedy........ NOTE - People bought it to this levels from 9000 will exit in next 500 to 800 gain level, and END-Users like us will stuck with expensive stocks again for years... DO NOT BUY Share this post Link to post Share on other sites
KumaarShah 143 Report post Posted May 18, 2009 ^^^ I second sadikk's advise on this..... Share this post Link to post Share on other sites
ravi_patent 28 Report post Posted May 18, 2009 actually this is the time to sell if anyone has bought in the last 2-3 months! Share this post Link to post Share on other sites
CUPIDON 0 Report post Posted May 18, 2009 nobody bought, nobody sold today, stock market shot by 2000 points, I really dont understand this funda, Stocks which have gone up 20 % should be in circuit filter, I can understand, but why put the whole market on circuit, Some of the stocks were not even traded, and atleast some chance should be given to people who want to get out Share this post Link to post Share on other sites
phonegeek 588 Report post Posted May 18, 2009 You know what, I am really fearing that this could end up in a big mess for people who has short positions in the market in anticipation of hung results. There could be a major problem in settlement since now exchange will ask for additional margin. Share this post Link to post Share on other sites
kshah 452 Report post Posted May 18, 2009 I dont know what has changed? How so called stable government is gonna make difference. Major economy booster projects like EXPRESS HIGHWAYS areyet not completed, rather they are no where in list of priority. Remember China is number 5 worldwide in terms of infrastructure and that is the reason why they grow fast. We need connectivity across the country. Stock market is reflection of NOTHING. Share this post Link to post Share on other sites
