Indian Stock Markets set for big bang opening

The Indian Markets are set for a big bang opening on Monday after the people voted enmasse for the Congress led UPA in the recent parliamentary elections. The SGX NIFTY also points to the huge gap up opening on Monday with the index trading at 4120, up by 435 points or 11.80%.

India has been an outperformer after the recent turmoil in global economy. The Indian Markets have been outperforming rest of the markets and surging ahead on buying by Domestic Institutions and Foreign Institutional Investors (FIIs).

Experts see a huge inflow of nearly US$5 - 6 billion in the next few weeks on a stable reform oriented government ruling the country.

The BSE Sensex closed on Friday before the election results at 12173.42, up by 300.51 points compared to Thursday's close. The NSE S&P CNX NIFTY closed at 3671.65, up by 78.2 points compared to Thursday's close.

Experts like Ramesh Damani, Rakesh Jhunjhunwala are still skeptical to call that this is a bull market as the macro conditions are still not improving. As the key even it over, after the euphoria markets might look for global cues and policy decisions by the new UPA government.

Source : Equity Bulls

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