09 Sep 2010 | India
Cover Story : November 2007
Before winter, the fall
Common understanding of the stock market is that whenever there is political or economic instability the market starts crashing and the sensex begins moving southwards. In India, just the opposite is at display. In the last two months of political instability caused by the Left threat to withdraw support from the UPA government if it chose to operationalise the civilian nuclear deal with the US, the stock market has gone up by 3000 points. Does this indicate robust market sentiments that are unmindful of what happens in the realm of politics, or do the investors bringing funds to the Indian bourses have a different view of the political crisis? Do they feel that the Left-UPA face-off is not for real and the government’s stability would not be undermined? Or do they have a different agenda?
Common understanding of the stock market is that whenever there is political or economic instability the market starts crashing and the sensex begins moving southwards. In India, just the opposite is at display. In the last two months of political instability caused by the Left threat to withdraw support from the UPA government if it chose to operationalise the civilian nuclear deal with the US, the stock market has gone up by 3000 points. Does this indicate robust market sentiments that are unmindful of what happens in the realm of politics, or do the investors bringing funds to the Indian bourses have a different view of the political crisis? Do they feel that the Left-UPA face-off is not for real and the government’s stability would not be undermined? Or do they have a different agenda?
The ‘PM’ Factor
With Manmohan Singh pushed to the wall and the Congress scared of facing mid-term polls, Left and UPA allies might pitch for the man who has repeatedly missed the top job by a whisker: Pranab Mukherjee
Hardnews Bureau Delhi
The other PM
Despite its ups and downs, Pranab Mukherjee's political career has been a steady accumulation of top-heavy portfolios
Pranay Sharma, Hardnews Delhi
Pranabbabu's Hilsa
Pranab Mukherjee is no longer seen by the CPM as a man from Delhi out to deny the state at the instance of the Congress high command, but rather as West Bengal's point man with a happy eye on the Left
Rajat Roy, Hardnews Kolkata
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