Showing posts with label Indian Elections. Show all posts
Showing posts with label Indian Elections. Show all posts

Sell in May & Go Away - Not This time


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.



Indian Elections 2009 - Projections



* The exit polls commissioned by various news channels to get a sense of the shape of the next government at the Centre predicted a badly fractured mandate, with the Congress-led UPA shown holding a slight edge over the BJP-led NDA.

* Bookies bet on Congress win in election.

* Prakash Karat says left will not allow BJP to form government and it says its ready for a congress lead minority government.

*
J Jayalalitha, a key Third Front partner, said in Chennai: "There are feelers from many places. I am not responding to them now. Everything depends on the results. If the results are as expected, then I will go to Delhi."

* The desperate hunt for allies led Congress to “touch base” with recently estranged partner Samajwadi Party as Prime Minister Manmohan Singh and other top Congress leaders, who have taken charge of the numbers mobilisation, sought a meeting with the SP leadership.