Stock markets to see cautious trading amid elections

NEW DELHI: After a record rally in the stock market over the past few days, indices may see cautious trading in a holiday-shortened week ahead amid the onset of general elections from Monday and industrial production data for February due on Friday, experts said. The stock markets will remain closed on Tuesday for ‘Ram Navami’.
BJP will release its manifesto on April 7 in Delhi where a number of its senior party leaders, including Prime Ministerial candidate Narendra Modi will be present. The manifesto, which will highlight the party’s promises to lure the voters for bringing it to power, will be coming out on a day when polling in six Lok Sabha seats in Assam and Tripura will be held.
“IIP is the only important data schedule this week. Continued fund inflow along with appreciation in domestic currency is pushing the benchmarks to new highs. “Participants especially global investors are expecting clear mandate to any political party in the upcoming elections thus they are optimist on growth prospect ahead,” said Jayant Manglik, President-retail distribution, Religare Securities Limited.
Lok Sabha elections will be held from April 7 to May 12 in nine phases. Besides, analysts said that the next major trigger for the stock market is the March quarter corporate earnings, starting on April 15 with IT major Infosys.
Brokers attributed the rally in the stock market over the past few days to hopes of a stable Government at the centre after the forthcoming general elections and the country’s economy returning to high growth path. The Sensex hit an all-time intra-trade high of 22,620.65 last week and ended with a gain of 19.53 points at 22,359.50. Meanwhile, foreign institutional investors (FIIs) continued their buying spree, acquiringshares worth over Rs 5,000 crore during the past week, including the provisional figure of April 4, as per the SEBI’s data. —PTI

One Response to "Stock markets to see cautious trading amid elections"

  1. hemen parekh   April 7, 2014 at 3:16 pm

    If / Then

    Long before our Computer Programmers started using the logic of ,
    > If ” this ” > Then ” that ” ,

    our politicians have been using it , for a long time

    Quite harmless logic , which cannot be faulted !

    For example :

    Recently , Beni Prasad Verma – Union Minister for Steel , said :

    ” If > Rahul Gandhi becomes Prime Minister ,

    Then > he will send Narendra Modi to jail for his role in 2002 Gujarat riots”

    Now every programmer – and his non-programmer cousin – knows that ,

    > what is theoretically ” Possible ”

    but ,

    > practically highly ” Improbable ” ,

    can pose no threat to NaMo !

    Another example :

    For the Lok Sabha elections starting today , every political party worth its salt , has published its Poll Manifesto

    These Manifestos read ,

    > If ” We are voted to power at the Centre ,

    > Then ” We promise to give each voter , a 3 bedroom flat , a government
    job , a Maruti car , free healthcare , and admission to school / college of
    your choice , for all your children ”

    Now , does that pose any threat to these political parties ?

    Absolutely none !

    They know they are NOT going to be voted to power !

    So , why be ” economical ” in promises ?

    Promise anything to anyone !

    When voters don’t even bother to ask the party that does assume power ,

    ” What is your Score Card ? How far have you fulfilled your promises ? ”

    Earlier , in Dec 2012 ( before Assembly elections in Gujarat ) , BJP manifesto said ,

    ” If voted to power , we will build in Gujarat , 50 Lakh houses ( of course , for the poor ) in next 5 years ”

    That is 2,739 houses per day

    Or 12,79,113 new houses in the last 467 days ,since BJP came to power !”

    Cannot find these ?

    Go away ! Don’t ask such embarrassing questions !

    We did not expect to get voted to power !

    * hemen parekh ( 07 April 2014 / Mumbai )