27 October, 2020

White Bulls In India Shop

It's the Big F that has pushed the Sensex across the feelgood 6000 mark. Like last year, the foreign investors seem to be on a merry run. Updates

White Bulls In India Shop
outlookindia.com
-0001-11-30T00:00:00+05:53
Six months ago, the 'M' factors jittered the Indian markets. The month of May saw a new government in power, headed by Manmohan Singh but with outside support from the market-unfriendly Left parties. Monsoons too seemed uncertain with the combined spectre of drought and floods looming over Indian economy. Foreign investors decided to take their monies elsewhere—from India to other nations. Then the 'I' indicators caused more concern. Inflation reached an all-time high in recent times and domestic interest rates began to creep up. It was a case of "lost hope" for the bourses, as the Sensex tanked from a high of over 6000 in January this year to around 4200 in May.

Then, out of nowhere, the 'F' factor quaked the Sensex. As the index skyrocketed upwards, it caught everyone on the wrong foot. Or rather the right foot, as Foreign Institutional Investors (FIIs) again bulldozed their way into India and scared off the bears. The Sensex zoomed and crossed the 6000-point mark again, the investment party began in earnest and, at the muhurat trading this Diwali, experts were predicting...
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