Could someone from India describe the importance of the recent Indian political election? http://online.wsj.com/article/SB124247639267526963.html "The Communist Party of India (Marxist) and Left have suffered a major loss," Prakash Karat, general secretary of the CPI(M) told reporters in New Delhi. "This necessitates action and re-thinking." Is the Congress party a conservative pro-business party? I do not notice significant change in the Indian Rupee / Euro exchange rate but the currency exchange markets might be closed for the weekend. (graph attached)
India BSE 30 Stock Index There may be a conjunction of fundamental and price events. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2430283 \img>
well, Yes. Congress is a pro-business party and a decisive victory like this will do wonder. The Prime Minister is the person who brought liberalization in india during 1990s when he was holding finance ministry. Congress without leftist, will certainly do wonder for the cash starved industry at this juncture. Note: You must have seen by this time how indian market has reacted to the victory of Congress. 20% upper circuit. Mkt closed for the day. Market experts said the Left-less victory of the UPA over BJP-led National Democratic Alliance not only signifies the formation of a stable government, but also revive hopes of a slew of pro-market policy changes that would take Indian markets to new highs in the coming days. read here: http://business.rediff.com/slide-show/2009/may/18/slide-show-1-sensex-rockets-on-upa-victory.htm
http://in.reuters.com/article/domesticNews/idINCOL28396920090518 May 18 (Reuters) - Sri Lanka declared total victory over the Tamil Tiger rebels on Monday, saying troops had put the Indian Ocean island nation entirely in government hands for the first time since civil war erupted in 1983. --- I interpret political election results to mean that the Indian People choose unity over division. I notice at almost the same time the Tamil Tiger revolutionary force is destroyed.
http://in.reuters.com/article/inRupeRpt/idINBMA00292520090518 "Indian rupee rises to 48/dlr, up over 3 pct on day" I do not notice much change in INR USD exchange rate chart patterns. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2430295 \img>
Well now....whats the link here?? Sri Lanka has declared its victory over LTTE so how does it relate to indian polity? We do have supporters for Tamil people in Sri lanka but we don't support LTTE. Its a terrorist organization declared in India.