Street to cheer ruling party’s scale of victory in Uttar Pradesh, which gives it room for adding more representatives in the Upper House of the Parliament.
The BJP is set to form the government in Uttar Pradesh and Uttarakhand while the Congress has grabbed Punjab. The Congress and the BJP are neck-and-neck in Manipur and Goa. Watch this space for live updates.
The fact that the market bounced back from August's low of 5100 to touch new highs makes experts believe that there is a possibility of something much larger happening.
The next big trigger for the market now is the Union Budget 2012. Experts believe that the market will be volatile till the Budget.
Speaking to CNBC-TV18, Abhay Laijawala, head of research at Deutsche Equities India says that this is the last time the government can present an economic Budget. “Next year, it will be an election Budget,” he says.
The assembly election results in five states could be the key factor driving markets today. Monday saw markets fall over a percent on fears that a Congress loss in UP could upset the reforms process further.
It's been a scary start to the week with the indices suffering deep gashes. The broader markets lead the fall and the global markets too did nothing to help. From a peak at the 5,600 level last week, the Nifty tumbled all the way below the 5,300 today losing over 148 points.
CNBC-TV18 catches up with Arvind Gemini, director, Kalindee Rail Nirman to discuss the growth prospects of the industry under the new regime. He said he expects the Mamata government to push for quick execution of the pending projects.
SBI hiking rates by 75bps at one go is a big negative for the equities, says Udayan Mukherjee