Advertisement
Monday, Oct 25, 2021
Outlook.com

A Li'L Elevator Music

The Sensex spurts as a peaking Dow prompts FIIs to plump for Indian commodity scrips

A Li'L Elevator Music
A Li'L Elevator Music
outlookindia.com
-0001-11-30T00:00:00+05:53

The irony is striking: when the country had a valid government, the bourses were struggling to trot. And now when the government is a mere caretaker, the stockmarkets are flying like Pegasus. In the one month since the Jayalalitha quake rocked the Vajpayee government, the Bombay Stock Exchange Sensitive Index (Sensex) has jumped almost 25 per cent, a gain of nearly 1,000 points. Says Singapore-based Sameer Arora, in charge of Asian emerging markets at Alliance Capital: 'In a way, it's good that there is no government. In fact, if there were a government, I don't think the market would have taken off like this. Each evening, the markets would have debated what's going to happen at the Centre. Now till the elections, everyone's sure nothing much is going to happen.' Adds K.R. Bharat, managing-director, Credit Suisse First Boston (India) Securities, 'India's biggest enemy is India itself. Whenever things are on an even track, the country finds something to pull itself back. Indeed, absence of a valid government at the Centre is the best news for the markets in a long while.'

In...

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

'Phir Bhi Dil Hai Hindustani': Shah Rukh Khan As The Symbol Of Indianness

'Phir Bhi Dil Hai Hindustani': Shah Rukh Khan As The Symbol Of Indianness

SRK’s persona evokes the kind of Indianness that denies categorisation into singular, exclusive identities. And thrives on making others feel welcome.

Aryan Khan Case: Witness Alleges NCB Asked For Rs 18 Crore Bribe From Shah Rukh Khan

Aryan Khan Case: Witness Alleges NCB Asked For Rs 18 Crore Bribe From Shah Rukh Khan

Aryan Khan, who is currently lodged in Mumbai's Arthur Road Jail, was arrested on October 2 on a cruise in connection to the possession of illegal drugs.

T20 World Cup: Pakistan Break Jinx Vs India In Style

T20 World Cup: Pakistan Break Jinx Vs India In Style

Babar Azam (68) and Mohammad Rizwan (79) made light of a 152-run target to help Pakistan break a World Cup jinx against India.

Love, Longing And Shah Rukh: Growing Up With DDLJ In The Time Of Mandal And Kamandal

Love, Longing And Shah Rukh: Growing Up With DDLJ In The Time Of Mandal And Kamandal

Shah Rukh Khan called himself a peddler of love. That’s better than the pitches selling religion. Love is all we need now.

Advertisement