Desi Cartman Posted May 18, 2009 Posted May 18, 2009 MUMBAI: Trading was halted at the BSE and NSE for two hours as for the first time in the history of the Indian stock markets the benchmark indices hit the upper circuit, that too within a minute of opening of trade. ( Watch ) Trading will resume at 1155 hours and might halt for the day if the indices hit the 20% limit, brokers said. The upsurge at the NSE was very sharp as the Nifty surged 15 per cent within 13 seconds of opening of trade, leading to the suspension of trading on both the exchanges for two hours. "It is for the first time in the history of the Indian stock markets that the upper circuit was imposed ... The stock market is upbeat about the outcome of the election results," said Manoj Choraria, a leading Delhi-based stockbroker. The 30-share Bombay Stock Exchange Sensex zoomed 1,789.88 points or 14.70% at 13,963.30, while the National Stock Exchange 50-share Nifty increased 531.65 points or 14.48% at 4,203.30. All the major sector-indices were in the positive zone. With the Congress-led UPA getting over 260 seats in the general elections, it was expected that stock markets would react positively to the political developments, especially the formation of a stable government. The markets on Monday opened for the first time after the election results were announced on Saturday.
ViruRulez Posted May 18, 2009 Posted May 18, 2009 Good to see sensex touching 13000 after a long long time .. hope that the developement goes back into track once again now
mhr123 Posted May 18, 2009 Posted May 18, 2009 Most of the foreign investors are more keen to invest under Manmohan Singh , they feel more relaxed under Manmohan Singh as they all know our PM is capable of handling the recession.
THX_1138 Posted May 18, 2009 Posted May 18, 2009 Please dont read too much into this... single day movements of the stock market are not a barometer for the economy's growth/potential or for that fact anything. It simply means that somewhere a bunch of smart alec brokers made more money than god without producing a single commodity and without providing a single service. I.e. if anything, the bloated stock index is nothing but a cause for concern as it represents the very decadence that led to the collapse of the american economy.
fineleg Posted May 18, 2009 Posted May 18, 2009 Please dont read too much into this... single day movements of the stock market are not a barometer for the economy's growth/potential or for that fact anything. It simply means that somewhere a bunch of smart alec brokers made more money than god without producing a single commodity and without providing a single service. I.e. if anything' date=' the bloated stock index is nothing but a cause for concern as it represents the very decadence that led to the collapse of the american economy.[/quote'] Eggjacktly :hatsoff:
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