07 May, 2021

Sensex And The PM

Top Bombay stockbrokers on the effect the various candidates would have on the bourses

Sensex And The PM

WHICH prime minister do the stock exchanges want? As the Lok Sabha elections results started rolling in, the Bombay Stock Exchange Sensitive Index (Sensex) appeared totally unsure which way to go. On March 2, as news of early gains by the BJP alliance in Tamil Nadu flashed across television screens across the nation, the Sensex leaped by 150.39 points to hit 3,772.61, in the belief that India would at last get a stable government with BJP and allies ending up close to 270.

But after trading closed for the day, the full impact of the results from Maharashtra started sinking in. As BJP and Shiv Sena headed for a rout in the state, punters sold heavily, and on March 3, the Sensex dropped by 126.61. Since then, as the nation found itself staring at a Parliament bisected right down the middle, the Sensex has been drooping. On March 5, when the Sensex dropped by 29.31 and it became more or less certain that neither BJP nor the Congress-UF combine would be able to provide the sort of stability that the Indian economy has been seeking for some...

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