SENSEX

sensex-earned-dividends-post-exit-polls

Sensex earned dividends post Exit Polls

The Exit Polls brought fortune for the capital market today making it the best gains for the Sensex and the Nifty in 10-years.

Sensex, on Monday, opened at 38,819.68, up by 888.91 points while the Nifty opened at 11,691.30, up by 284.15 points

Benchmark indices surged in trade with the Sensex ending the day with mammoth gains of 1422 points, following exit poll predictions of a clear majority for the ruling NDA. The Sensex ended the day at 39,352 points, while the Nifty rallied 421 points to close at 11,828 points.

Indiabulls Housing led gainers from the Nifty with the stock ending 12 per cent higher, while SBI jumped more than 7 per cent.  Shares of Yes Bank, which had hit a 52-week low on Friday, gained substantial ground. The shares ended up 7 per cent at Rs 144. Shares in Anil Dhirubhai Ambani Group (ADAG) companies saw solid buying support with Reliance Capital up near 6 per cent.

Further, Indian Rupee too,m jumped against the US Dollar and rose to a two-week high of 69.36 against the USD as compared to Friday’s close of 70.23. Stock market experts believe that the exit poll results were better than expected which is being reflected in the stock market.

It may well be underlines that in 2004, markets had gained in the pre-poll rush, in hopes of a second term of BJP under Atal Bihari Vajpayee, but the markets crashed soon after the results were out. All it would depend on the final poll results on May 23, 2019.

20 May 2019
patel's-exit:-market-nervous,-psbs-happy

Patel's exit: market nervous, PSBs happy

Urjit Patel's sudden and surprise resignation, citing unspecified personal reasons, may not act as a bolt from the blue for the government. But it would not save the NaMo administration from a barrage of uncomfortable questions inside and outside Parliament where the Winter Session begins from today. Till a credible face takes the charge as the new RBI governor, the global credit rating agencies may keep India on critical credit watch.

 

Late Monday, rating agency Moody’s Investors Service, in a statement, said the independence of a country’s central bank is an important consideration while assessing a country’s institutional strength and any attempt by the government to curtail it would be credit negative.

 

Moody's observation was based on reports that Patel's resignation was the fallout of his increasing policy differences with the government which wanted him to go slow on applying brakes on PSB lendings to the MSMEs.

 

Politically, the campaign inside the BJP, spearheaded by irrepressible Subrahmanyan Swamy, against FM Arun Jaitley may escalate and fresh questions may be asked about his ability to run the critical FinMin which has earlier seen a similar exit of renowned economists, Subramaniam and Panagariya.

 

Fund managers feel that the resignation will be “taken negatively by the market” on an immediate basis and his replacement will hold the key. The stock market opened on Tuesday on a negative note.

 

Former RBI governor Raghuram Rajan told Reuters: “I think Dr Patel has made a statement. We should go into the details on why there was an impasse which forced him to take this ultimate decision and I think this is something all Indians should be concerned about because the strength of our institution is really important.”

 

“A lot will depend on who replaces Dr Urjit Patel. A man or woman of standing and credibility will convince the market that the RBI is an institution and not an individual and the good work done by the RBI in inflation management will be carried forward,” said Nilesh Shah, MD, Kotak Mahindra Mutual Fund.

 

A global fund manager said that given the fact that around $40 billion of unindexed money is in Indian markets and Indian bonds are not part of any bond markets, investing in India is a risk for bond fund managers and a small “underperformance” can hit hard as funds can exit.

 

Despite such concerns, PSU banks, as a group, heaved a sigh of relief on the resignation of Patel who was seen as being unsympathetic to their cause. PSB officials believe the new Governor may be more “realistic” and help in a faster exit of some PSU banks out of the RBI’s PCA framework.

 

The new Governor, they said, could also hand over a portion of the RBI’s surplus capital to infuse capital in stressed PSU banks.

10 Dec 2018
sensex-earned-dividends-post-exit-polls

Sensex earned dividends post Exit Polls

By IndianMandarins 20 May 2019

The Exit Polls brought fortune for the capital market today making it the best gains for the Sensex and the Nifty in 10-years.

Sensex, on Monday, opened at 38,819.68, up by 888.91 points while the Nifty opened at 11,691.30, up by 284.15 points

Benchmark indices surged in trade with the Sensex ending the day with mammoth gains of 1422 points, following exit poll predictions of a clear majority for the ruling NDA. The Sensex ended the day at 39,352 points, while the Nifty rallied 421 points to close at 11,828 points.

Indiabulls Housing led gainers from the Nifty with the stock ending 12 per cent higher, while SBI jumped more than 7 per cent.  Shares of Yes Bank, which had hit a 52-week low on Friday, gained substantial ground. The shares ended up 7 per cent at Rs 144. Shares in Anil Dhirubhai Ambani Group (ADAG) companies saw solid buying support with Reliance Capital up near 6 per cent.

Further, Indian Rupee too,m jumped against the US Dollar and rose to a two-week high of 69.36 against the USD as compared to Friday’s close of 70.23. Stock market experts believe that the exit poll results were better than expected which is being reflected in the stock market.

It may well be underlines that in 2004, markets had gained in the pre-poll rush, in hopes of a second term of BJP under Atal Bihari Vajpayee, but the markets crashed soon after the results were out. All it would depend on the final poll results on May 23, 2019.

patel's-exit:-market-nervous,-psbs-happy

Patel's exit: market nervous, PSBs happy

By IndianMandarins 10 Dec 2018

Urjit Patel's sudden and surprise resignation, citing unspecified personal reasons, may not act as a bolt from the blue for the government. But it would not save the NaMo administration from a barrage of uncomfortable questions inside and outside Parliament where the Winter Session begins from today. Till a credible face takes the charge as the new RBI governor, the global credit rating agencies may keep India on critical credit watch.

 

Late Monday, rating agency Moody’s Investors Service, in a statement, said the independence of a country’s central bank is an important consideration while assessing a country’s institutional strength and any attempt by the government to curtail it would be credit negative.

 

Moody's observation was based on reports that Patel's resignation was the fallout of his increasing policy differences with the government which wanted him to go slow on applying brakes on PSB lendings to the MSMEs.

 

Politically, the campaign inside the BJP, spearheaded by irrepressible Subrahmanyan Swamy, against FM Arun Jaitley may escalate and fresh questions may be asked about his ability to run the critical FinMin which has earlier seen a similar exit of renowned economists, Subramaniam and Panagariya.

 

Fund managers feel that the resignation will be “taken negatively by the market” on an immediate basis and his replacement will hold the key. The stock market opened on Tuesday on a negative note.

 

Former RBI governor Raghuram Rajan told Reuters: “I think Dr Patel has made a statement. We should go into the details on why there was an impasse which forced him to take this ultimate decision and I think this is something all Indians should be concerned about because the strength of our institution is really important.”

 

“A lot will depend on who replaces Dr Urjit Patel. A man or woman of standing and credibility will convince the market that the RBI is an institution and not an individual and the good work done by the RBI in inflation management will be carried forward,” said Nilesh Shah, MD, Kotak Mahindra Mutual Fund.

 

A global fund manager said that given the fact that around $40 billion of unindexed money is in Indian markets and Indian bonds are not part of any bond markets, investing in India is a risk for bond fund managers and a small “underperformance” can hit hard as funds can exit.

 

Despite such concerns, PSU banks, as a group, heaved a sigh of relief on the resignation of Patel who was seen as being unsympathetic to their cause. PSB officials believe the new Governor may be more “realistic” and help in a faster exit of some PSU banks out of the RBI’s PCA framework.

 

The new Governor, they said, could also hand over a portion of the RBI’s surplus capital to infuse capital in stressed PSU banks.

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