The announcement of the economic stimulus plan by the government of United States, combined with an election budget had influenced an market rally of 3%. The reaction of the market is seen as a positive feeling it has from the outcome from the above actions. If successfully implemented, will help achieve the market prediction of 11k.
However the details of the Interim budget has been negative the India Inc / markets. The markets plumpted by 330 pts. The Budget is widely touted as the election budget. The government wants to survive the upcoming general elections. Currently there are no favorites, but BSP Supremo, Mayavati is expected to make a killing. She is certainly not among the liked ones, but will certainly play spoil sport.
Congress may have a fair chance to head for a Coaliation Government. The BJP sounds dangerous at the moment with a lot of vying for Singular (Hinduatva) views than Secular views. I do not wish to change this country’s view on Secular way of life, like the middle east does. (more…)