There was an unprecedented rally in the stock markets soon after the exit poll results of the Lok Sabha elections were out. The news was that the BJP would get an absolute majority and the stocks soared like nobody's business. The investors were richer by over Rs 5 lakh crore. It was then said that the rally was because it was Namo Again. In fact, the surge on the day the actual results were out was not on the same scale.
A similar upheaval was seen on Monday after the budget was presented. But, unlike the exit polls results, this time the stocks plummeted. With budget proposals not so heart-warming for the markets, the trading sessions on Friday day and Monday saw losses to a tune of Rs 8 lakh crore. Surcharge on the super rich, hike in tax and surcharge for foreign investors, reduction in promoters equity have led to the negative sentiment. Only gold shares seem to be doing well.
The Nifty and the Sensex, the two key indicators too were affected by the negative sentiment. Government's policies are adding to the negative sentiment.
A similar upheaval was seen on Monday after the budget was presented. But, unlike the exit polls results, this time the stocks plummeted. With budget proposals not so heart-warming for the markets, the trading sessions on Friday day and Monday saw losses to a tune of Rs 8 lakh crore. Surcharge on the super rich, hike in tax and surcharge for foreign investors, reduction in promoters equity have led to the negative sentiment. Only gold shares seem to be doing well.
The Nifty and the Sensex, the two key indicators too were affected by the negative sentiment. Government's policies are adding to the negative sentiment.