The Congress led UPA govt which has won the 2009 general elections with a clear mandate are ready to start new chapter in Indian democracy. Prime Minister Mr.Manmohan Singh along with his 19 cabinet ministers will take the oath today evening. Some news which is coming in just now is that DMK which was previously thought to support the Govt from outside due to differences of berths in the cabinet has a made a new settlement with the UPA govt.

News coming in reveals that DMK has settled for 3 cabinet berths and 4 MoS as of now. Some of the senior leaders who are expected to take oath today include Pranab Mukherjee, P Chidambaram, Mamata Banerjee, Sharad Pawar, Kapil Sibal, S M Krishna, A K Antony, Ghulam Nabi Azad, S. Jaipal Reddy, Ghulam Nabi Azad, Kamal Nath, Ambika Soni, Murli Deora, Anand Sharma, .K. Handique, C.P. Joshi,M. Veerappa Moily.

The council of ministers will be expanded soon and the portfolios will also be decided in the coming days. Meanwhile the UPA Govt has released its 100 day plan and is ready to go on the expansion and development work in the coming days. It will be the second term for the PM Mr.Manmohan Singh equally the record of Mr.Vajpayee. The portfolios are to be declared over the week end.

Mr.Pranab Mukherjee seems to be among the front runners for the finance minister’s job, a post which he managed long back in 1980′s. Mr.Chidambaram is likely to continue in his current role of Home Minister and Mr.Kapil Sibal could be the next foreign minister in the newly formed cabinet.

Meanwhile the Indian stock markets which was very volatile in today’s  session managed to make some gains after 2 day’s of losing streak. Sensex closed 150 points up and nifty managed to gain 28 points. RIL and ICICI has extended gains today which led to a small buying activity in the markets today. In the whole week sensex was up by 14% and nifty was up by15.2%. What an incredible week it has been so far. But as and when the euphoria of the success of UPA govt settles, the markets are likely to consolidate from here.

Every dip can be seen as a good opportunity to build a good portfolio for long term. You can go long in nifty once it crosses 4350 levels with a stop loss of 4200. Some of the stocks for a good long term portfolio include RIL, ICICI, Reliance Capital,DLF, Unitech, Reliance Communications, L & T, Sterlite Industries,SBI etc. Keep watching the space for more such updates coming soon!

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