Intense political intriguing dominated the whole week among the UPA allies for the selection of the Presidental nominee.The Sensex rose 1.63% on Friday to 16,949, posting its highest close since May 3. The Nifty advanced 1.67% to 5,139. For June, Indian equities rallied over 4.5%, outperforming Asian peers.
Congress Party president Sonia Gandhi may not trust Pranab Mukherjee, the UPA‘s Presidental nominee announced on Friday, but with her party facing tough elections due by 2014, he may be just the ace the party desperately needs.