Investors Gaind 3.6 lakh crore, Government richer by Rs 1.8 lakh crore, ISE Best Performing Market Across the World
Investors gaind 3.6 lakh crore and 2nd biggest gain in single day ever due to UPA come back in power with full majority and hope of stable government have boost the market. Half of 3.6 i.e 1.8 lakh crore came from strong gains in 46 government-managed companies that is PSUs and government has become richer by Rs 1.8 lakh crore.
All the 46 PSUs gained over 10% on Monday, with BHEL’s market capitalization rising by 22%, the maximum in this group. PSU exploration giant ONGC gained the most: rising from Rs 1.74 lakh crore on Friday to Rs 2.01 lakh crore on Monday, a gain of nearly Rs 28,000 crore. The top five PSUs — ONGC, NTPC, NMDC, BHEL and MMTC — together have made the government richer by nearly Rs 1 lakh crore.
Indian stock market as the best performing market across the world, giving investors an astounding 48% gains in 2009. Sensex had gained 26% in 2009 Before Monday but the two minute bull 2,000-point gain turned out to be the best performing market this year. Marketmen expect India to turn into one of the lowest risk, highest growth investment destination globally.
"Global investors will be chasing out performance and Indian economy can offer them the best chance with 7-8% GDP growth in the next few years. While investors were earlier chasing value, now they will be chasing growth. The mindset has changed and there is lot of money waiting to come into India," said Seturam Iyer, chief investment officer at Shinsei AMC.