The Sensex is a barometer of feelings about the economy. It is the name the man in the street knows for the Bombay Stock Exchange Sensitive Index.
Yesterday history was created in India with the Sensex closing at a high of 18,280 – up 789 points. For perspective, the Sensex was at 3390 on January 1, 2003, rose to 5000 in November 2003, reached 10,000 in February 2006, 15,000 in July 2007 and now up to 18,000.
The news that drove such an increase yesterday is attributed by many to indications of political stability with a patch up between the UPA and the Left- even if temporary. The market seems to have shrugged off the political worries with the Left and Congress deciding to take up the Indo-US nuclear deal issue after the festive celebration of Dussehra on Oct 22.
Fortunes, I am sure, were made or lost in the last few days. Invest carefully is my advice.
“October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February”- Mark Twain.