Congress Led UPA Sweeps General Elections 2009, Markets To React Positively

17 May

Posted by Shyam as Opinions

To start with hearty congratulations to Congress party and the UPA to make a clean sweep of the general election 2009. It was really great to see people’s verdict for the next govt at the center. UPA lead by congress got almost close to the majority at 262 seats. Congress could win 206 seats. So it was a very clear mandate for the govt. NDA lead by BJP could only get 159 seats far behind the figures of Congress and UPA.

The biggest outcome of the general election 2009 is that UPA almost need not take any sort of help from the third front and bravely go on with the decisions which it takes. Now UPA can take good and strong decision and also stand to them. So now whats in store for the Indian markets. As many were predicting of a fall in the markets after elections due to probable uncertainity, thats not going to happen now. And we see a huge rally tomorrow on the D-Street.

Refrain from taking any short position in the market now. In most likely we are going to see new highs in the coming days until the GM bankruptcy news comes in towards the end of the month. Banking, IT, insurance stock will lead the rally from the front. Some of the front line stocks of interest could be RIL, ICICI, Axis Bank, Bharti, DLF etc. So lets enjoy a great week ahead in the markets!