India dispatch

A daily take on markets, economy and politics

Bombay Stock Exchange soars on UPA victory

Stocks opened sharply higher on Wednesday cheering the UPA government’s win in the confidence vote in parliament, the Economic Times reports. Investors were on a buying spree across the board. Banking stocks were in demand followed by realty and power stocks.

At 10 am, Bombay Stock Exchange’s Sensex soared to 14,739.79, up 4.5 per cent or 636 points from Tuesday’s close. National Stock Exchange’s Nifty climbed 4.28 per cent or 181.35 points to 4421.45.

July 23, 2008 - Posted by indiadispatch | Uncategorized | | 1 Comment

1 Comment »

  1. Hi,

    5 days of rally in Indian stock market recommendation and again a crash. One day gap up opening next day just mirror reflection of it (Gap down). All points gained by nifty whipping out. Investors was thinking that they should reenter in the market and can take long positions but just see what happened. These kind of movement are called traps. Still we are expecting more short covering to come in 2-3 days.

    But do remember overall market mood is bearish throughout the year. So invest money but for short term not for medium to long term. You will get much better opportunities to do so at more lower levels.

    Thanks

    Regards

    ShareTipsInfo Team

    Comment by sharetipsinfo | July 31, 2008


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