Delhi MCD Election Results 2017

Source: media reports

Volatility seen in run-up to general election

Volatility seen in run-up to general election
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First Published: Thu, Apr 02 2009. 11 29 PM IST

 Strong views: Private investor Rakesh Jhunjhunwala. Santosh Verma / Bloomberg
Strong views: Private investor Rakesh Jhunjhunwala. Santosh Verma / Bloomberg
Updated: Thu, Apr 02 2009. 11 29 PM IST
New Delhi: Elections 2009—The Economic Impact, a discussion hosted by CNBC-TV18 and Mint on Wednesday and moderated by Udayan Mukherjee, managing editor, CNBC-TV18, brought forth views of prominent experts on the election and its impact on the markets and the economy.
Strong views: Private investor Rakesh Jhunjhunwala. Santosh Verma / Bloomberg
Vallabh Bhansali, chairman, Enam Securities, rated action above stability. “A government which is stable is worse than one that does not take action,” he said, adding that he sees equal chances for the Bharatiya Janata Party-led National Democratic Alliance and the Congress-led United Progressive Alliance. “Any government supported by (Bahujan Samaj Party leader) Mayawati is acceptable.” He said the market is unlikely to move up significantly in the next six to eight weeks.
Veteran investor Rakesh Jhunjhunwala was more strident in his views. “Communists must not be part of the government nor support it from outside,” he said. He said the NDA, supported by Mayawati, is a better option for markets. He said investors are waiting for the outcome of the poll and the market could see some volatility in the run-up to the election.
Ridham Desai of Morgan Stanley said the market may be sceptical and hesitate if the UPA, supported by the Left, comes to power. He said he wouldn’t rule out the possibility of a third front government supported by the UPA or the Congress from outside. Desai saw more than 50% probability of the market breaking from current levels, and said the Sensex could range between 7,000-15,000 till December.
cnbctv18@livemint.com
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First Published: Thu, Apr 02 2009. 11 29 PM IST