Sell in May & Go Away - Not This time

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An old market saying " Sell in May & Go Away " did not work this time around. The Indian Markets witnessed a staggering 1000 point rally on S&P Nifty this May. The Election victory for UPA turned out to be a game changing event for the markets. Rally was fulled by Expectations that Reforms will hit fast track under the newly formed coalition which dooesnt include the left parties.

Earlier Finance minister Pranab mukerji said that getting economy back on track will be his first priority, however he also added that fiscal discipline will be maintained. It appears that markets are running ahead of fundamentals, the recent GDP data released showed that Indian economy grew at 6.7% its slowest pace in last 6 years. Optimists see this as the trough and expect the economy to pick up from October 09 after the monsoon season.



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