UPA in power

Finally UPA has come back to power and markets have welcome Dr Manmohan with thump. Historic golden monday for markets are they hit Upper Circuits and ended 17+% above. The ULIPs were so wary of redepmtion, they announced that Monday's NAVs will not be applicable and all redemption will be made on Tuesday's NAV. But no respite for them as NAV on both days were similar.

The big question remains, the market gave thumbs up for stability of a non-left government. But with allies as DMK, TMC, is it reasonable to expect long lasting government?? Time will tell that.. But the great India story likely to return to path and we may see a good 2010 if this govt doesnt do anything silly to loose power.. I say so because they are too vocal about support from their old allies, RJD, SP etc...

Too much outside support can spoil the party.. but nevertheless.. it was soothing to see green marks on markets after such a long time..

-Prasant