Sensex up by 838 points or almost 5.45 percent , this is what will happen if the investor is happy and the global market is also happy , the market returned back gift for the uncertainity drama that was goign in the UPA govenment and also the oil price which is at 125 $ per barrel which was at a high of 147 dollar 2 weeks back.Almost 5 scrip in the sesex stock has gone up by more than 10 percent .
Sensex stock up by more than 10 percent
Reliance Communication (up 12.33% at Rs 525.85),
Housing Development Finance Corporation (up 12.03% at Rs 2404),
State Bank of India (up 10.75% at Rs 1548),
Bharat Heavy Elelctricals (up 10.68% at Rs 1768.10), and
Reliance Infrastructure (up 9.87% at Rs 1010)
Market finally closed by
SENSEX 14,942.28 +838.08 +5.94
MIDCAP 5,615.94 +269.91 +5.05
SMLCAP 6,812.64 +276.22 +4.23
BSE-500 5,692.25 +320.14 +5.96
|Everyone was just looking for the magic number 272 but no it was 275 infact it way above expectation not sure if prominent BJP leaders itself might have voted for UPA .The government needed only 271 but finally it got 4 more with 275 supporting and 256 only opposing it .After winning the vote Manmohan singh dint even give speech as the lok sabha was too noisy with all party alleging congress of all kind of bribes and money for vote thing had bought them this much seat .
Anyway what is next have to see how the global market and based on that invest in company that will benefit from the nuclear deal for which UPA would take all action and US which is also ready to whatever it can to go ahead with the nuclear deal.
Left informed that they have withdrawn support to UPA and for the same they are going to submit the letter to the president of india tomorrow at 12 noon.They are not really getting good vibes from the Prime Minister on the nuclear deal and they dont want to support the UPA to go ahead with the nuclear deal so they are withdrawing support on that basis.But its good time for the Congress as SP voted in favor of the Nuke Deal. SP have convinced all members of Party in favor of Nuke Deal. Akali Dal to meet on July 14 to decide on extending support to UPA. Akali Dal consists of 8 members.
The market had a very solid comeback after noon with Sensex having its biggest intra-day gain in 3 months. Sensex gained 702 points. The market was like both negative and postive territory when it opened today morning , suddenly the news spread to the whole brouses that congress might have chance to stay in power even after going ahead with the nuclear deal ,This is like good for the congress and also for the heavy machinery company which will benefit from the nuclear deal , and now coming back to how the government will be in power –
Congress-led United Progressive Alliance (UPA) government may be supported by samjwadi party (SP) when the Left is threatening to withdraw support for the government if they sign the nuclear deal , The left will take out like 60 seats and the SP will gove like 39 seats and they need only 44 to go ahead with the deal , so for the remaining 65 seats they cant get support from smaller parties.
The decision on this will be made tomorrow so tomorrow will be more intresting and we can see some movement in Larsen toubro,bhel, abb and more company stocks.
So Saddam Hussein is hanged and not sure why such a hurry may be they don’t want to put too many days on this because world wide thr might be people who might support Saddam and that might lead to more problems , so think they just want get this thing over.